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Rx3 Pharmaceuticals, Inc. Awarded Two New National Institutes of Health (NIH) Grants Totaling $1.5 Million


9/25/2006 10:01:33 AM

SAN DIEGO, Sept. 25 /PRNewswire/ -- Rx3 Pharmaceuticals, Inc., an anti-infective drug discovery company, announced today that it has recently been awarded two new grants totaling $1.5 million. The two grants complement the three year, $3 million grant the Company was awarded at its inception as well as the commercial research revenues it is currently receiving.

"We are very pleased that in this highly competitive environment, the Federal Government continues to value the cutting edge, antibiotic drug discovery that the Company is undertaking," said John Finn, Ph.D., President of Rx3 Pharmaceuticals. "These grants support our focus, which is developing novel classes of antibacterial agents. The funding will allow the Company to expand its staff and its R&D facilities to further advance its preclinical antibiotic research."

The objective of the first award is to further develop potent antibacterial agents that kill a broad array of pathogenic bacteria by inhibiting more than one enzymatic target simultaneously. The goal of the second award, which is a two year grant, is to discover compounds that inhibit specific cell wall targets and that act synergistically in combination with certain existing antibiotics. As the aims of either grant are achieved, the Company will qualify for substantially increased funding by applying for Phase II funding to further this research.

About Rx3 Pharmaceuticals

Rx3 Pharmaceuticals is a drug discovery company applying its structure-based drug design technologies to its antimicrobial programs. These programs target novel proteins in validated biological pathways. For more information, visit www.rx3pharma.com.

Rx3 Pharmaceuticals, Inc.

CONTACT: John P. Schmid, Chief Financial Officer of Rx3 Pharmaceuticals,Inc., +1-858-452-0370, ext. 105, jschmid@rx3pharma.com; or Media, KarenKristofferson of Mentus, Life Science, +1-858-455-5500 ext. 275,karen@mentus.com, for Rx3 Pharmaceuticals, Inc.


Read at BioSpace.com


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