What is Phio Pharmaceuticals?
Phio Pharmaceuticals Inc., formerly known as RXi Pharmaceuticals, is a US-based biotechnology firm specializing in the development of therapeutics utilizing its proprietary siRNA platform. The company has strategically shifted its focus towards dermatology and ophthalmology indications, aiming to address unmet medical needs in these specialized fields. The name change in 2018 signaled a renewed direction and commitment to its core technological strengths.
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?
With the recent major strategic investment, Phio Pharmaceuticals is poised for accelerated growth and pipeline advancement. This capital infusion is expected to fuel further research and development, potentially enabling the company to advance its dermatology and ophthalmology candidates through critical clinical trial phases. The company's focus on siRNA technology positions it within a rapidly evolving therapeutic landscape, suggesting a future centered on innovation and targeted treatment solutions.
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