Phio Pharmaceuticals

Phio Pharmaceuticals is a clinical-stage biotechnology company headquartered in King of Prussia, Pennsylvania. The company develops immuno-oncology medicines based on INTASYL, its proprietary self-delivering RNA interference platform. INTASYL compounds are designed to enter cells without requiring conventional lipid or nanoparticle delivery systems, with the objective of enabling direct modulation of genes involved in tumor biology and immune-cell function. The company originated as RXi Pharmaceuticals and was established around the therapeutic potential of RNA interference, a biological mechanism in which short RNA molecules suppress expression of selected genes. One of the company’s co-founders was Craig C. Mello, who shared the 2006 Nobel Prize in Physiology or Medicine for work that helped establish the mechanism of RNA interference. In its earlier form, RXi pursued RNAi applications in dermatology and ophthalmology and developed programs intended to address local tissue diseases. A key technical development was the creation of INTASYL, also referred to as self-delivering RNAi or sd-rxRNA. The platform incorporates chemical and structural features into the RNA molecule itself to promote stability, cellular uptake, and pharmacological activity. Its compounds combine a phosphorothioate-containing single-stranded region, a short double-stranded RNA segment, and chemical modifications intended to protect the molecule from degradation and improve interaction with cell membranes. The approach was developed through medicinal-chemistry screening and was described by the company as capable of entering multiple cell types in laboratory and animal studies. By 2017, after clinical work in dermatological and ocular indications had produced safety and efficacy findings that informed the company’s strategy, RXi chose to concentrate its resources on immuno-oncology. The company’s rationale was that the INTASYL platform could have particular value in the tumor microenvironment, where local treatment may be used to alter immune checkpoints, suppress immunosuppressive pathways, or improve the activity of immune cells against cancer. This represented a shift from pursuing RNAi as a broad technology platform toward developing a more focused pipeline of immuno-oncology therapeutics. To reflect that strategic transition, the company changed its name from RXi Pharmaceuticals to Phio Pharmaceuticals in November 2018. The new identity positioned the business around discovery and development of therapeutics based on its self-delivering RNAi technology rather than around a general-purpose RNAi platform. Phio has remained a clinical-stage biotechnology company, meaning that its principal activities have centered on research, preclinical development, clinical testing, and partnering or financing activities rather than commercial sales of approved medicines. Phio Pharmaceuticals is publicly traded on the Nasdaq under the symbol PHIO. Its corporate leadership has included Robert Bitterman, a former executive at Cutanea. In September 2022, Bitterman became Executive Chairman and assumed the duties of Principal Executive Officer. The company’s publicly described business remains focused on advancing INTASYL-based candidates in immuno-oncology. No approved commercial product, broad consumer brand portfolio, or confirmed commercial revenue-generating medicine is identified in the supplied reference material.

Phio Pharmaceuticals developed from RXi Pharmaceuticals, a biotechnology company created to pursue therapeutic applications of RNA interference. The company was co-founded by Craig C. Mello, whose scientific work on RNAi contributed to the field’s recognition as a potentially powerful method for selectively reducing gene expression. RXi’s early strategy covered multiple disease areas, including dermatological and ocular conditions, where locally administered RNAi medicines could potentially address disease-related genes in accessible tissues. In 2009, RXi filed a patent relating to its INTASYL technology. The platform was designed to produce self-delivering RNAi compounds, later described as sd-rxRNA, by embedding delivery-supporting properties in the chemical structure of the RNA molecule rather than depending on a separate carrier. The compounds use a combination of single-stranded and duplex RNA regions together with chemical modifications intended to improve nuclease resistance, membrane interaction, and uptake by cells. This design sought to address a recurring challenge in RNA-based drug development: ensuring that an active molecule can reach the relevant cells in a stable and therapeutically useful form. RXi became a publicly traded company and initially advanced programs in dermatology and ophthalmology. Clinical trials in these areas supplied information about the safety and potential clinical activity of the company’s approach. In 2017, the company reassessed its priorities and decided that immuno-oncology offered the strongest opportunity for INTASYL. The strategic change reflected the possibility of using self-delivering RNAi compounds to manipulate genes in tumor cells, immune cells, or the tumor microenvironment, potentially supporting more effective anti-cancer immune responses. The transition was accompanied by a corporate rebranding. In November 2018, RXi Pharmaceuticals changed its name to Phio Pharmaceuticals. The new name was intended to reflect a move away from being primarily identified as a general RNAi platform company and toward the focused discovery and development of immuno-oncology therapeutics based on INTASYL. Phio’s subsequent identity has therefore been associated with a specialized drug-development model: use of a proprietary RNAi chemistry platform to generate candidates for cancer immunotherapy. Phio is headquartered in King of Prussia, Pennsylvania, and its shares trade on Nasdaq under the ticker PHIO. Robert Bitterman, previously associated with Cutanea, became Executive Chairman in September 2022 and assumed the duties of Principal Executive Officer. The company remains described as clinical-stage, so its activities are centered on research, clinical development, regulatory preparation, and corporate financing rather than the sale of an approved pharmaceutical product. The supplied references do not establish a commercial launch, an approved medicine, a controlling parent company, or a definitive founding year.

• 2022

  Robert Bitterman becomes Executive Chairman and Principal Executive Officer

  [1]Phio Pharmaceuticalsen.wikipedia.org

  In September 2022, Robert Bitterman was appointed Executive Chairman and assumed the responsibilities of Principal Executive Officer.

• 2018

  RXi Pharmaceuticals adopts the Phio Pharmaceuticals name

  [1]Phio Pharmaceuticalsen.wikipedia.org

  The company changed its name in November 2018 to signal its transition from a broad RNAi platform business toward focused immuno-oncology therapeutics.

• 2017

  Strategic focus shifts to immuno-oncology

  [1]Phio Pharmaceuticalsen.wikipedia.org

  Following clinical work in dermatology and ophthalmology, the company chose to prioritize immuno-oncology applications for its self-delivering RNAi platform.

• 2009

  RXi files a patent related to INTASYL

  [1]Phio Pharmaceuticalsen.wikipedia.org

  RXi Pharmaceuticals filed a patent concerning its self-delivering RNAi technology, an early milestone in the development of the platform later branded as INTASYL.

• 2006

  Co-founder Craig Mello receives the Nobel Prize for RNA interference research

  [1]Phio Pharmaceuticalsen.wikipedia.org

  Craig C. Mello, identified as a co-founder of the company’s predecessor, shared the Nobel Prize in Physiology or Medicine for discoveries concerning RNA interference, the scientific foundation underlying the company’s technology strategy.

Phio positions itself as a clinical-stage biotechnology developer focused on immuno-oncology therapies enabled by self-delivering RNA interference. Its differentiation is the design of RNAi compounds intended to achieve cellular uptake and biological activity without relying on separate liposomal or nanoparticle delivery systems.

• Self-delivering RNA interference platform

  INTASYL

  INTASYL is Phio’s proprietary self-delivering RNAi platform, also described as sd-rxRNA. The compounds are engineered with a short duplex RNA region, a phosphorothioate-containing single-stranded region, and chemical modifications intended to increase stability and promote cellular uptake. By incorporating delivery-related properties into the RNAi compound itself, the platform is designed to reduce reliance on external liposomal or nanoparticle carriers. Phio applies INTASYL to immuno-oncology research, with the broader aim of regulating genes in cancer cells and immune cells.

• 2018

  Corporate rebranding from RXi Pharmaceuticals to Phio PharmaceuticalsStrategy

  Background

  The company was moving from a broad platform-oriented RNAi identity toward a more concentrated immuno-oncology drug-development strategy.

  Action taken

  In November 2018, RXi Pharmaceuticals changed its corporate name to Phio Pharmaceuticals.

  Aftermath

  The new name aligned the corporate identity with the company’s stated focus on INTASYL-based immuno-oncology therapeutics.

  Source

• 2017

  Prioritization of immuno-oncologyStrategy

  Background

  RXi had developed RNAi programs in dermatological and ocular indications and had generated clinical safety and efficacy information in those areas. The company concluded that INTASYL could create greater value in immuno-oncology.

  Action taken

  The company redirected its strategic emphasis toward discovery and development of immuno-oncology therapies using the self-delivering RNAi platform.

  Aftermath

  The strategic shift preceded the 2018 corporate name change and established the focus associated with Phio Pharmaceuticals.

  Source

• 2020.02.11

  Reported2020.02.11

  Phio announces pricing of $8 million public offering[2]Phio宣布800万美元公开发行定价prnewswire.com

  Phio Pharmaceuticals announced pricing for an underwritten public offering of 2,000,000 units at $4.00 per unit. The offering was expected to close on or about February 13, 2020, subject to customary closing conditions.

• 2020.02.06

  Reported2020.02.06

  Phio Pharmaceuticals closes $1.74 million registered direct offering[3]Phio Pharmaceuticals 完成 174 万美元注册直接发行prnewswire.com

  Phio Pharmaceuticals announced the closing of a registered direct offering of 197,056 shares at $8.83 per share, with gross proceeds of approximately $1.74 million before fees and expenses.

Read more

1. 1Phio Pharmaceuticalsen.wikipedia.org
2. 2Phio宣布800万美元公开发行定价prnewswire.com
3. 3Phio Pharmaceuticals 完成 174 万美元注册直接发行prnewswire.com
4. 4Phio Pharmaceuticals Announces $4.0 Million Registered Direct Offering Priced At-the-Marketprnewswire.com
5. 5Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Marketprnewswire.com