Mello’s RXi Pharma to Raise $8.1M


RXi Pharmaceuticals (NASDAQ:RXII), a Worcester, MA-based biotech focused on RNA interference treatments, has priced a public offering of common stock and warrants expected to gross $8.1 million, according to a press release. The company, whose big-named scientific advisor is RNAi luminary and Nobel laureate Craig Mello, says that the public offering is expected to close around March 4. The firm plans to use the net proceeds of the offering, estimated at $7.3 million, for general corporate purposes.

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