RXi Pharmaceuticals Signs Common Stock Purchase Agreement for Up to $15 Million

August 11, 2017: By Jon Swedien

RXi logoRXi Pharmaceuticals announced Aug. 9 that it has entered a common stock purchase agreement with Lincoln Park Capital (LPC) Fund, a Chicago-based investor with a portfolio emphasis in life sciences, including therapeutics aimed at treating cancer.

Marlborough, Massachusetts-based RXi is developing a product candidate for retinal scarring related to wet age-related macular degeneration called RXI-109.

According to the terms of the agreement, RXi will have the right at its sole discretion to sell to LPC up to $15 million worth of shares over a 30-month period.

RXi will control the timing of any future investment, and LPC will be obligated to make purchases in accordance with the terms of the agreement.

RXi expects to use the proceeds for working capital and general corporate purposes, including advancing its immuno-oncology pipeline.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

FDA Advisory Panel Recommends Aerie’s Rhopressa for Glaucoma Patients

FDA Panel Unanimously Backs Spark’s Luxturna as Retinal Gene Therapy

PanOptica Secures $11 Million to Advance Topical Anti-VEGF Eye Drop for Neovascular AMD

Nicox and pSivida to Collaborate to Develop a Sustained Release Drug to Lower IOP

Azura Nets $16 Million in Series B Funding for Dry Eye Treatment

Alcon’s AcrySof Intraocular Lens Reaches 100 Million Implants

Notal Vision’s ForeseeHome Reaches Milestone of 3 Million Tests

FDA to Review Spark’s Retinal Gene Therapy Candidate Oct. 12

Alcon’s AutonoMe IOL Injector Gains CE Mark Approval

Shire Sues Allergan, Claiming Bundling Tactics Block Restasis Competitors

Allergan Decries ‘Unfair’ Patent Challenge Process as US House Launches Probe of Tribe Deal

FDA Warns that Vancomycin Eye Injections May Lead to Blindness

Alcon to Launch Clareon IOL at ESCRS Meeting

Bribery Trial Testimony Focuses on Melgen’s Billing for Lucentis

VSY Biotechnology to Launch AcrivaUD Trinova Trifocal IOL at ESCRS Meeting

Valeant Launches $1 Billion Private Senior Notes Offering

STAAR Surgical Appoints Scott Barnes, MD, as New CMO

Aerie Acquires Envisia Technology for $25M to Advance Retinal Program

Carl Zeiss Meditec Announces Milestone of 1 Million SMILE Procedures

Maryland Team Wins First Phase of NEI Contest to Create Human Retina

Coming soon

2017 Refractive Surgery Report: A Global Market Analysis for 2016 to 2022