Three prominent philanthropic organizations — The Angel Fund, The ALS Therapy Alliance, and Project ALS – have provided funding to RXi Pharmaceuticals Corporation (NasdaqCM: RXII) and Dr. Robert Brown, Chair of the Department of Neurology at the University of Massachusetts Medical School, to study the use of RXi’s self-delivering rxRNA™ (sd-rxRNA™) compounds as a potential treatment for amyotrophic lateral sclerosis — ALS or Lou Gherig’s Disease.

UMass Medical School is planning to open a new laboratory research facility that includes the RNA Therapeutics Institute, which will be co-directed by Craig C. Mello, PhD, a Howard Hughes Medical Institute Investigator and the Blais University Professor of Molecular Medicine at the University of Massachusetts Medical School. Mello was a co-recipient of the 2006 Nobel Prize in Medicine for his discovery of “RNA interference” and is also the Chairman of RXi’s scientific advisory board.

In other news, on November 23, RXi announced the company won Frost and Sullivan’s 2009 North American RNAi Therapeutic Design and Delivery Technology Innovation of the Year Award for the development of its proprietary RNAi compounds, rxRNA™, and advanced delivery approaches. The rxRNA™ compounds are designed specifically for therapeutic use and contain many of the properties needed to develop RNAi-based drugs.

President and chief executive officer of RXi, Noah Beerman, commented on the award in the company’s news release:

“We are honored to receive this prestigious award. RXi has built a comprehensive RNAi therapeutic platform based on innovative technology that we are using to advance internal therapeutic programs as well as those of our partners and collaborators. RXi’s therapeutic platform consists of rxRNA™ compounds optimized for therapeutic applications and advanced delivery technologies for both local and systemic delivery. For these accomplishments, RXi has been recognized with the Frost & Sullivan RNAi Technology Innovation of the Year Award.”

The Technology Innovation Award is awarded yearly to a company (or possibly one person) whose research has developed into a new innovation or could possibly bring about big changes to the industry. The award is a symbol of dedication to its winner’s research, development, and vision for the future.

RXi is one of three public pure-plays in RNAi. With its strong technology platform, broad intellectual property position, adept management team and world-class scientific advisors, including Dr. Craig Mello, the company appears well-positioned to compete successfully in the RNAi therapeutics market.

Disclosure:  RXi Pharmaceuticals Corporation is a client of RedChip Companies, Inc.  RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. For full financial disclosures for all RedChip clients, please visithttp://www.redchip.com/disclosures.asp?src=rcv.