RXi closes exclusive global license agreement with Hapten Pharmaceuticals for Samcyprone

RXi Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company focused on discovering and developing innovative therapies addressing high-unmet medical needs, today announced the closing of its previously disclosed exclusive global license agreement for the therapeutic use of Samcyprone™ with Hapten Pharmaceuticals, LLC.

Under the terms of the license agreement, Hapten received a one-time upfront cash payment of $100,000 and 200,000 shares of RXi common stock. Hapten will also be entitled to receive future milestone payments tied to the achievement of certain clinical and commercial objectives, such as the enrollment of the first patient in a Phase 3 clinical trial and regulatory approval, and escalating royalties based on product sales.