April 14, 2011
RXi Completes Apthera Buy
RXi Pharmaceuticals Corp. has completed the acquisition of Arizona-based biotechnology firm Apthera Inc., giving it ownership of a possible treatment for breast cancer patients.
RXi announced the acquisition last month, saying it would buy Apthera for about 4.8 million RXi shares, as well as possible future contingency payments.
RXi said the breast cancer treatment, NeuVax, will start Phase III clinical trials in the first half of 2012. The company said it is also continuing plans for an anti-scarring product, RXI-109, which is scheduled to start human clinical trials in early 2012.
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