RXi Pharmaceuticals to Ring NASDAQ Stock Market Closing Bell

WORCESTER, Mass.--(Business Wire)--
RXi Pharmaceuticals Corporation (Nasdaq: RXII), a biopharmaceutical company
pursuing the development and commercialization of proprietary therapeutics based
on RNA interference (RNAi), announced today that Tod Woolf, Ph.D., President and
CEO, along with members of RXi`s management team, will ring the Nasdaq closing
bell tomorrow, Tuesday, Oct 6, 2009 at the Nasdaq Marketsite in New York City`s
Times Square.

Dr. Woolf`s brief remarks will recognize the progress RXi`s has made since
trading began in March of 2008 and publicly thank all RXi shareholders for their
continuing support.

Webcast:

A live webcast of the NASDAQ Closing Bell will be available at:

http://www.nasdaq.com/about/marketsitetowervideo.asx

About RXi Pharmaceuticals Corporation

RXi Pharmaceuticals is a discovery-stage biopharmaceutical company pursuing the
development and potential commercialization of proprietary therapeutics based on
RNA interference (RNAi) for the treatment of human diseases. RXi has a
comprehensive therapeutic platform that includes both RNAi compounds and
delivery technologies. RXi uses its own version of RNAi compounds -- rxRNA --
that provide an advanced alternative to conventional small interfering RNAs
(siRNAs) and define the next generation of RNAi technology. rxRNA compounds are
designed specifically for therapeutic use and contain many of the properties
needed to rapidly advance RNAi based drugs into the clinic. RXi Pharmaceuticals
believes it is well positioned to compete successfully in the RNAi-based
therapeutics market with its accomplished scientific advisors, including Dr.
Craig Mello, recipient of the 2006 Nobel Prize for his co-discovery of RNAi; a
management team that is experienced in developing RNAi products; and a strong
early intellectual property position in RNAi chemistry and delivery.
www.rxipharma.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements include, but
are not limited to, statements about future expectations, plan and future
development of RXi Pharmaceutical Corporation`s products and technologies. These
forward-looking statements about future expectations, plans and prospects of the
development of RXi Pharmaceutical Corporation`s products and technologies
involve significant risks, uncertainties and assumptions, including the risk
that the development of our RNAi-based therapeutics may be delayed or may not
proceed as planned and we may not be able to complete development of any
RNAi-based product, the risk that the FDA approval process may be delayed for
any drugs that we develop, risks related to development and commercialization of
products by our competitors, risks related to our ability to control the timing
and terms of collaborations with third parties and the possibility that other
companies or organizations may assert patent rights that prevent us from
developing our products. Actual results may differ materially from those RXi
Pharmaceuticals Corporation contemplated by these forward-looking statements.
RXi Pharmaceuticals Corporation does not undertake to update any of these
forward-looking statements to reflect a change in its views or events or
circumstances that occur after the date of this release.

RXi Pharmaceuticals
Donna Falcetti, 508-929-3615
ir@rxipharma.com
or
Investors
S. A. Noonan Communications
Susan Noonan, 212-966-3650
susan@sanoonan.com
or
Media
Rx Communications Group
Eric Goldman, 917-322-2563
egoldman@rxir.com

Copyright Business Wire 2009