Rx3 Pharmaceuticals Awarded Two New NIH Grants
Totaling $1.5 Million
Company Expands Scientific Staff and Lab Facilities Based on New Revenues
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San Diego, CA, September 25, 2006 – 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 pathways. For more information, visit www.rx3pharma.com.