What is Phio Pharmaceuticals?
Phio Pharmaceuticals Inc., formerly known as RXi Pharmaceuticals, is a US-based biotechnology firm operating within the siRNA (small interfering RNA) sector. The company is dedicated to developing a pipeline of therapeutic candidates targeting dermatology and ophthalmology indications. Its strategic shift and rebranding in 2018 to Phio Pharmaceuticals signal a focused approach to leveraging its proprietary siRNA platform for advanced medical treatments.
How much funding has Phio Pharmaceuticals raised?
Phio Pharmaceuticals has raised a total of $24.6M across 3 funding rounds:
Stock Offering
$10.4M
Debt
$150K
Share Placement
$14M
Stock Issuance/Offering (2015): $10.4M, investors not publicly disclosed
Debt (2020): $150K led by PPP
Share Placement (2021): $14M, investors not publicly disclosed
Key Investors in Phio Pharmaceuticals
PPP
Public-Private Partnership
What's next for Phio Pharmaceuticals?
The recent major strategic investment indicates Phio Pharmaceuticals is likely in a growth or scaling phase, aiming to advance its therapeutic pipeline through clinical development and potential commercialization. This enterprise-level funding suggests a strong investor confidence in the company's technology and market strategy, positioning it for significant advancements in the competitive biotechnology landscape. Future endeavors will likely focus on progressing its dermatology and ophthalmology programs towards key milestones.
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