Follow the Money: Rexahn Pharmaceuticals, Inc.

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Follow the Money highlights a newly funded bio/pharmaceutical company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Rexahn Pharmaceuticals, Inc. is a U.S. public pharmaceutical company that discovers, develops and commercializes treatments for cancer, CNS disorders and other unmet medical needs. As reported in the November 12, 2015 issue of the PharmSource Lead Sheet, Rexahn Pharmaceuticals planned to raise $7 million in the completion of a secondary public offering.

Corporate Highlights

  • Rexahn Pharmaceuticals was founded in March 2001 under Rexahn Corp, which merged with and became Rexahn Phamaceuticals in 2005.
  • Corporate Headquarters: Rockville, MD – approximately 7,103 square feet of office space.
  • Facility: Germantown, MD – approximately 1,100 square feet of laboratory space.
  • As of March 16, 2015, Rexahn Pharmaceuticals had 22 employees.

Sourcing Opportunities

  • Rexahn Pharmaceuticals plans to use the proceeds for working capital and general purposes, as well as for product development, including:
    • Archexin (RX-0201) – complete a Phase IIa study:
      • For the treatment of metastatic renal cell carcinoma
      • Dosage Form: Parenteral
      • Nature of API: Biologic – Nucleic acid – Oligonucleotide
      • Therapeutic Area: Oncology – Other
    • RX-3117 – complete a Phase I study:
      • For the treatment of solid tumors and pancreatic cancer
      • Dosage Form: Capsule
      • Nature of API: Chemical – Cytotoxic
      • Therapeutic Area: Oncology – Chemotherapy
    • Supinoxin (RX-5902) – complete a Phase I study:
      • For the treatment of solid tumors
      • Dosage Form: Capsule
      • Nature of API: Chemical – Normal potency
      • Therapeutic Area: Oncology – Other
  • The company contracts with contract research organizations (CROs) to conduct clinical trials.
  • Rexahn Pharmaceuticals does not own or operate manufacturing facilities and has no plans to develop them. The company relies on third party contract manufacturers for all required raw materials, API, and finished product for preclinical studies and clinical trials.
  • Rexahn Pharmaceuticals has no sales, marketing or distribution experience.

Business Relationships

  • On February 6, 2003, Rexahn Pharmaceuticals entered into a research collaboration agreement with Rexgene for the development of Archexin in Asia. Under the terms of the agreement, Rexgene paid $1.5 million upfront for have exclusive rights of Archexin in Asia and pay a 3% royalty fee based on sale milestones of Archexin.
  • On June 22, 2009, Rexahn Pharmaceuticals entered into a license agreement with Korea Research Institute of Chemical Technology (KRICT) to acquire all intellectual property related to Quinoxaline-Piperazine derivatives, which included Supinoxin. Under the terms of the agreement, Rexahn paid an initial license fee of $100,000 in July 2009, and will pay $1 million to KRICT upon marketing approval from the FDA.1

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
RX-21101 Docetaxel conjugate Unknown Preclinical TBA
Supinoxin (RX-5902) Solid Tumors Capsule Phase I TBA
RX-3117 Solid Tumors
Pancreatic Cancer
Capsule Phase I TBA
Archexin (RX-0201) Metastatic Renal
Cell Carcinoma
Parenteral Phase I TBA

Finances

(In $ thousands) 2014 2013
Revenues
R&D Expenditures
7,015,901
3,253,139
General & Administrative Expenditures
6,253,328
4,725,699
Total Operating Expenses
13,269,229
7,978,838

1Rexahn Pharmaceuticals, Inc., 10-K, SEC.gov

Contact Information

Rexahn Pharmaceuticals, Inc. Key Officers
15245 Shady Grove Road, Suite 455 Peter D. Suzdak, PhD, CEO
Rockville, MD, 20850, USA Rick Soni, President & COO
Phone: +1-240-268-5300 Chang H. Ahn, PhD, CSO
Web: www.rexahn.com/cms Ely Benaim, MD, CMO

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Scotty is a Research Analyst at PharmSource. He holds a BS degree in Biology from George Mason University and an MPH degree from Eastern Virginia Medical School. He’s experienced in data collection, analysis and management, and has done laboratory analysis and safety program development.

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