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Resverlogix Corp To Spin-Out RVX Therapeutics Inc. To Shareholders

Monday, 8 Apr 2013 07:00am EDT 

Resverlogix Corp announced that Board of Directors has approved a proposal to spin-out subsidiary, RVX Therapeutics Inc., which will focus on drug research and development by leveraging epigenetics platform. RVX Therapeutics will exclude Apolipoprotein A-1 (Apo A-1) and RVX-208 technologies, rather focusing on multiple therapeutic indications including autoimmune diseases and cancer. The spin-out is to be implemented by way of a court-approved Plan of Arrangement (the Arrangement) pursuant to the Business Corporations Act (Alberta). The objective of the spin-out is to split the clinical RVX-208 program (Resverlogix) from the epigenetics platform (RVX Therapeutics). In doing so, this process will create distinct corporate environments such that Resverlogix is structurally ready for acquisition while RVX Therapeutics' future value could be realized through a licensing and/or partnering business model. There can be no assurances or guarantees that the spin-out will be completed. 

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