Las Vegas, NV -- (SBWIRE) -- 03/11/2013 -- RXi Pharmaceuticals Corp (OTC:RXII) recently announced that they have had a deal with OPKO Health. This deal gives RXII rights to the intellectual property OPKO's iRNA portfolio. In exchange, RXII gave 50 million shares from RXi common stock and made milestone payments worth $50 million and royalty payments to OPKO Health.
This would give a significant boost to the RXi Pharmaceuticals Corp's RNA program. The compound RXI-109.RXI-109 is leading this program currently. It inhibits Connective Tissue Growth Factor (CTGF) protein. This plays a very important role in the formation of scar tissue.
Due to these rapid developments, RXII has raised to 34% in single trading session. This would bring the company with total gains of 160% in 2013.
The involvement of Dr. Philip Frost has also enticed many investors. He has a very impressive and outstanding record in the biotech sector.
To find out what OTCMAGIC projects for RXi Pharmaceuticals Corp for both short term and long term please click here: RXII
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