The diagnostic is being developed using a new peptoid-based technique for detecting disease-specific antibodies that could prove broadly useful as a protein biomarker discovery tool, said a researcher.
The two areas, which have opportunities RXi's CEO called "tremendous" and "significant," have been well worn by rival drug companies making similar bets including Sirnaomics, TransDerm, and Quark Pharmaceuticals.
According to Opko, Schering-Plough is making the divestiture, which includes the phase II chemotherapy-related nausea and vomiting prophylactic rolapitant, in order to meet certain requirements for its expected merger with Merck.
According to Opko, the company focuses on "the representation, importation, commercialization, and distribution of pharmaceutical products, [over-the-counter] products, and medical devices for the government, private, and institutional markets."
The transaction "provides the company with additional financial resources to fund acquisitions and support bringing [its] projects and pipeline of novel drugs and products to market," according to Opko Chairman and CEO Phillip Frost.