RXI Pharmaceuticals, BioAxone BioSciences Awarded 2-Yr Grant to Further Develop Treatment of Spinal Cord Injury

RXI Pharmaceuticals (RXII) and its development partner BioAxone BioSciences Inc. have received 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.

The award is for a total of $1,794,895 to fund the collaborative project over 24 months. During the first year, BioAxone will receive $735,822 with the remaining balance awarded in the second year after achieving certain milestones. For their contribution, RXi will receive $129,000 in the first year with the potential to receive an additional $118,800 in the second year after achieving certain milestones.

Under this grant, 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.

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