Boston Life Sciences News From Vertex, Eleven, RXi, & More

5/11/12Follow @xconomy

News of financings, clinical developments, hires, and IPO moves came out of New England life sciences companies this week.

Cambridge, MA-based Vertex Pharmaceuticals revealed promising data showing it could potentially reach more cystic fibrosis patients by combining its treatment ivacaftor (Kalydeco) with an experimental drug called VX-809. The company plans to advance the combination regimen into a third and final stage of clinical trials.

JAFCO, Third Rock Ventures, and Flagship Ventures pumped $20 million in Series A funding into Eleven Biotherapeutics. The Cambridge-based startup will use the money to fund the first human trial of its lead drug EBI-005, a treatment for dry eye syndrome.

—RXi Pharmaceuticals, a Worcester, MA-based biotech working in the area of RNA interference, said Thursday that it had named Geert Cauwenbergh as its new president and CEO. The company also announced its stock had begun trading on the OTC Bulletin Board under the symbol RXII.

—BioSurplus, a San Diego-based company that has a platform for buying and selling pre-owned laboratory equipment, announced it had raised $1.5 million from KI Investment Holdings to fund an expansion to the Boston area.

—New Haven, CT-based antibiotics developer Rib-X Pharmaceuticals has postponed its initial public offering, a day after slicing its projected share price by 50 percent to $6 to $7 per share, Renaissance Capital reports. The company filed paperwork late last month indicating it had hoped to go public at $14 per share.

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