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RXi Pharma Signs Development Deal

Biotechnology company said Monday it is collaborating with miRagen Therapeutics Inc. to develop potential treatments for heart and muscle diseases.

Apr 12, 2010

WORCESTER, Mass. (AP) -- Biotechnology company RXi Pharmaceuticals Corp. said Monday it is collaborating with miRagen Therapeutics Inc. to develop potential treatments for heart and muscle diseases. Financial terms of the deal were not disclosed.

RXi, based in Worcester, Mass., develops drugs that use "gene silencing" technology, which is designed to turn off the protein that causes a disease.

MiRagen, based in Boulder, Colo., also focuses on gene-silencing technology.

Shares of RXi rose 17 cents to $4.80 in premarket trading Monday.

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