WORCESTER, Mass.--(BUSINESS WIRE)--CytRx Corporation (NASDAQ:CYTR) today announced that RXi Pharmaceuticals Corporation (RXi), a majority-owned subsidiary of CytRx, has entered into significant new agreements with the University of Massachusetts Medical School (UMMS) to license RNA interference (RNAi) intellectual property for all therapeutic applications. RNAi has been shown to effectively interfere with the expression of targeted disease-associated genes with great specificity and potency, and was co-discovered by 2006 Nobel Laureate Dr. Craig C. Mello, who is expected to become a scientific advisor of RXi pending institutional approval. The agreements include an exclusive therapeutic license with rights to sublicense for nanotransporters, which have been shown to deliver intact RNAi to a number of tissues in animal models. The licenses are contingent upon RXi’s receipt of working capital funding in the coming months. Financial terms were not disclosed for competitive reasons.
