Healthcare Industry News: RNAi therapeutics
News Release - September 7, 2007
RXi Pharmaceuticals Names Life Science Veteran Stephen J. DiPalma Chief Financial OfficerWORCESTER, Mass.--(HSMN NewsFeed)--RXi Pharmaceuticals Corporation, a subsidiary of Cytrx Corporation (NASDAQ: CYTR ), today announced the appointment of Stephen J. DiPalma as Chief Financial Officer. The Company also announced the planned departure of James Warren to pursue other opportunities.
"We welcome Steve DiPalma to the RXi management team. Steve is an accomplished veteran who brings over 20 years of financial, operations and business development experience in early-stage life science companies, including broad financial and strategic management in both private and public companies. We intend to call upon his significant expertise to assist RXi in reaching our corporate goal of developing and commercializing proprietary RNAi therapeutics," said Tod Woolf, Ph.D., RXi's President and CEO. "I would like to thank Jim Warren for his valuable contributions to RXi during our formation period, first as a consultant and later as Chief Financial Officer."
Most recently, Mr. DiPalma was co-founder, President and Chief Executive Officer of Catalyst Oncology, Inc., a company providing cost-effective personalized medicine solutions to the oncology market, which was recently merged with a public diagnostics company. Prior to Catalyst, he served as Chief Financial Officer at Milkhaus Laboratory, a clinical stage drug development company, where he was instrumental in business development, strategic planning, finance and accounting, with a focus on capital strategies. He also served as Chief Financial Officer at Phytera, Inc., an international biopharmaceutical company.
Mr. DiPalma's past accomplishments include the successful turnaround of publicly traded Aquila Biopharmaceuticals while serving as Chief Financial Officer. Additionally, he co-founded and served as Chief Financial Officer of Athena Diagnostics, Inc., a premier specialty reference laboratory providing innovative tests for neurological disorders.
Mr. DiPalma holds an M.B.A. from Babson College and a B.S. in business administration from the University of Massachusetts at Lowell. He is a member of the Financial Executives Institute, Financial Executives Networking Group, Association for Corporate Growth and the National Investor Relations Institute.
About RXi Pharmaceuticals Corporation
Massachusetts-based RXi Pharmaceuticals Corporation is a biopharmaceutical research and development company that focuses on developing RNAi-based therapeutics for the treatment of human disease. RXi's initial focus is on neurodegenerative diseases, oncology, type 2 diabetes and obesity. RXi has licenses to a diverse series of early patents and patent applications that were filed from 1998 to 2006 in the areas of RNAi target sequences, RNAi chemistry and RNAi delivery. The Company was founded by RNAi pioneers Craig Mello, Ph.D., 2006 Nobel Laureate for co-discovering RNAi and co-inventing RNAi therapeutics; Tariq M. Rana, Ph.D., inventor of fundamental technology for stabilizing RNAi and of RNAi nanotransporters; Greg Hannon, Ph.D., discoverer of RNAi mechanism (RISC) and short hairpin RNAi (shRNA); and Michael Czech, Ph.D., a leader in the application of RNAi to diabetes and obesity. RXi's CEO, Tod Woolf, Ph.D., previously co-invented and commercialized STEALTH(TM) RNAi, one of the most widely used second-generation RNAi research products. The Company currently operates as a privately held subsidiary of CytRx Corporation (NASDAQ: CYTR ) and is located in Worcester, MA.
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties described in CytRx's most recently filed SEC documents, such as its most recent annual report on Form 10-K and any current reports on Form 8-K filed since the date of the last Form 10-K. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: RXi Pharmaceuticals
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