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Galena spins-out RXi, which gets $9.5mm in funding from investors
14 Jan 2021
Executive Summary
RXi Pharmaceuticals Corp. is splitting into two publicly traded companies: Galena Biopharma Inc. will focus on cancer therapeutics while the new RXi will spin off and continue the former company’s work on RNAi. In connection with the partial spin-off, two institutional investors purchased $9.5mm of RXi’s Series A preferred shares, an amount which includes shares converted from a $1.5mm bridge loan.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Antisense, Oligonucleotides
- Large Molecule
Deal Status
- Preliminary
Deal Type
-
Financing
- Convertible Debt
- Other
- Private Investment in Public Equity
- Private Placement
- Spin-Off
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Galena spins-out RXi, which gets $9.5mm in funding from investors
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