CAMBRIDGE, Mass. and
MARLBOROUGH, Mass., June 28, 2018 /PRNewswire/ -- BioAxone
BioSciences, Inc. announced today that, as part of a collaborative
effort with RXi Pharmaceuticals Corporation (NASDAQ: RXII), it is
the recipient of a grant award from the National Institute of
Neurological Disorders and Stroke (NINDS), part of the agency's
SBIR Phase II funding program. This two-year grant provides
funding for further development of BioAxone's preclinical candidate
BA-434, a novel sd-rxRNA® compound that targets PTEN for the
treatment of spinal cord injury (SCI).
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Unlike other SCI drugs in clinical development that target
growth inhibition in the central nervous system (CNS), BA-434
targets intrinsic barriers to axon regeneration. After
neurotrauma, neurons in the central nervous system do not
spontaneously regenerate their injured axons. Intrinsic
barriers to regeneration refer to the diminished ability of adult
CNS neurons to regenerate. PTEN is known to be an intrinsic
barrier to regeneration and BA-434 uses RXi's self-delivering RNA
interference therapeutic platform to block PTEN expression.
"This award reinforces the need for new therapeutics to address
a critical unmet need for patients with spinal cord injuries," said
Lisa McKerracher, PhD, CEO, BioAxone
BioSciences. "We appreciate NINDS' recognition of the
importance of our technology and the progress we have made to
date."
In September 2017, BioAxone was
awarded a total of $1,794,895 to fund
the collaborative project over 24 months. To date the project has
received $735,822 and today the
remaining $1,059,073 was awarded
based on accomplishing drug development milestones. For
their contribution, RXi received $128,838 in the first year and is to receive an
additional $118,800.
Under this grant, entitled "Development of self-delivering RNAi
targeted to PTEN for treatment of spinal cord injury," BA-434 will
be further developed to silence PTEN, a protein known to be an
intrinsic barrier to regeneration, thereby supporting regeneration
in the adult central nervous system.
"We are very pleased with the advancements that BioAxone has
achieved using our proprietary therapeutic platform in the
development of potential therapeutics for spinal cord injuries,"
said Dr. Karen Bulock, Vice
President of Research at RXi Pharmaceuticals. She further
added, "Our team looks forward to continued collaboration with
BioAxone in this important research supporting the development of
BioAxone's preclinical candidate BA-434, a novel sd-rxRNA compound
for the treatment of spinal cord injury."
The Small Business Innovation Research (SBIR) program was
created by the U.S. Congress to strengthen the role of small,
innovative companies in federally supported research and
development. It is one of the largest sources of early-stage
technology financing in the U.S. The National Institute of
Neurological Disorders and Stroke (NINDS) is the nation's leading
funder of research on the brain and nervous system and a component
of the National Institutes of Health (NIH). Research
reported in this publication was supported by the NINDS of the NIH
under Award Number R44NS084489. The content is solely the
responsibility of the authors and does not necessarily represent
the official views of the National Institutes of Health.
About BioAxone BioSciences
BioAxone BioSciences is a
clinical-stage biotechnology company based in Cambridge, MA, and is developing innovative
drugs to restore neurological function for patients with spinal
cord injuries and neurovascular disorders. The company also has
preclinical programs in restoring epithelial barriers in
gastrointestinal disease and in glaucoma. BioAxone is led by
a team of scientists renowned for their work on axon regeneration,
diseases involving Rho/ROCK signaling and cell barrier
function. For more information,
visit http://www.bioaxonebio.com and follow the company on
Twitter at @BioAxone.
About RXi Pharmaceuticals
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a
biotechnology company developing the next generation of
immuno-oncology therapeutics based on its self-delivering RNAi
(sd-rxRNA®) therapeutic platform. The Company's discovery and
research efforts are focused on developing sd-rxRNA therapeutic
compounds to be used with an Adoptive Cell Transfer (ACT) approach.
This process uses immune cells, such as T-lymphocytes that are
isolated from the patient or retrieved from allogeneic immune cell
banks, and then expanded and in some cases processed to express
tumor-binding receptors. Our approach introduces a new and
important step in ex-vivo processing of the immune
cells where sd-rxRNA is used to eliminate the expression of
immunosuppressive receptors or proteins from the therapeutic immune
cells, making them less sensitive to tumor resistance mechanisms
and thus improving their ability to destroy the tumor cells.
Essentially, we aim to maximize the power of our sd-rxRNA
therapeutic compounds by weaponizing therapeutic immune effector
cells to attack cancer and ultimately provide patients battling
terminal cancers with a powerful new treatment option that goes
beyond current treatment modalities. For additional
information, visit the Company's website, www.rxipharma.com
and follow the company on Twitter at @RXiPharma
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to, statements about: our expectation regarding
closing of the offering, our ability to successfully develop
RXI-109, Samcyprone™, RXI-762, RXI-804 and our other product
candidates (collectively "our product candidates"); the future
success of our clinical trials with our product candidates; the
timing for the commencement and completion of clinical trials; our
ability to enter into strategic partnerships and the future success
of these strategic partnerships; and our ability to deploy our
sd-rxRNA® technology through partnerships, as well as the prospects
of these partnerships to provide positive returns. Forward-looking
statements about expectations and development plans of RXi's
product candidates and partnerships involve significant risks and
uncertainties, including the following: risks that we may not be
able to successfully develop and commercialize our product
candidates; risks that product development and clinical studies may
be delayed, not proceed as planned and/or be subject to significant
cost over-runs; risks related to the development and
commercialization of products by competitors; risks related to our
ability to control the timing and terms of collaborations with
third parties; and risks that other companies or organizations may
assert patent rights preventing us from developing or
commercializing our product candidates. Additional risks are
detailed in our most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q under the caption "Risk
Factors." Readers are urged to review these risk factors and
to not act in reliance on any forward-looking statements, as actual
results may differ from those contemplated by our forward-looking
statements. RXi does not undertake to update forward-looking
statements to reflect a change in its views, events or
circumstances that occur after the date of this release.
Contact
BioAxone Biosciences, Inc.
Beth Kurth
LaVoieHealthScience
617-374-8800 x106
RXi Pharmaceuticals Corporation
Tamara McGrillen
508-929-3646
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SOURCE RXi Pharmaceuticals Corporation; BioAxone BioSciences