Resverlogix spinning out subsidiary
Resverlogix Corp. (TSX:RVX) said it will retain lead compound RVX-208 and spin out a subsidiary to focus on R&D of Resverlogix's other compounds that target the BET family of bromodomain-containing proteins for multiple diseases, including autoimmune diseases and cancer. Resverlogix will also retain preclinical compounds that increase production of apolipoprotein A-1 (APOA1) and are alternatives to RVX-208. Resverlogix said the move is intended to split Resverlogix's clinical program to "create distinct corporate environments such that Resverlogix is structurally ready for acquisition." Resverlogix's board approved the proposal to spin out the subsidiary, RVX Therapeutics Inc. The move is still subject to shareholder approval, which is expected in May. ...