Skip to main content
Premium Trial:

Request an Annual Quote

RXi Inks Financing Arrangement with Lincoln Park Capital


NEW YORK (GenomeWeb) – RXi Pharmaceuticals this week announced that it has signed a deal under which investment firm Lincoln Park Capital Fund has agreed to buy up to $20 million worth of RXi shares over the next 30 months.

Under the arrangement, Lincoln Park has already purchased 500,000 shares of RXi at $4 apiece for an initial investment of $2 million.

Upon RXi's filing of an investigational new drug application for its first ophthalmology product candidate, Lincoln Park will buy another $1 million in RXi stock at the prevailing market price. In addition to its Phase II anti-scarring drug RXI-109, company has treatments for macular degeneration and retinoblastoma in preclinical testing.

RXi also has the option to sell, at its sole discretion, an additional $17 million in stock to Lincoln Park over the term of the agreement.

The deal with RXi marks Lincoln Park's latest investment in the RNAi space. As reported by Gene Silencing News, the firm has also provided funding to Arrowhead Research, Marina Biotech, and Bio-Path.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.