RQx Pharmaceuticals and Genentech Enter Drug Discovery Collaboration to Develop Novel Drug Compounds

   RQx Pharmaceuticals and Genentech Enter Drug Discovery Collaboration to
                         Develop Novel Drug Compounds

PR Newswire

LA JOLLA, Calif., Feb. 12, 2013

LA JOLLA, Calif., Feb. 12, 2013 /PRNewswire/ --RQx Pharmaceuticals, Inc.
today announced that it has entered into a drug discovery collaboration with
Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), for the
discovery and development of novel drug compounds for an undisclosed target.
Under the terms of the agreement, RQx will receive an up-front payment and is
eligible to receive research and development milestone payments totaling $111
million. In addition, RQx is eligible to receive royalties on sales of
products resulting from the collaboration.

"We have made tremendous progress at RQx since the company's founding two
years ago, and we are pleased to be moving forward in partnership with
Genentech to bring new drugs to market," said Court Turner, CEO of RQx and
venture partner at Avalon Ventures.

RQx Pharmaceuticals was founded by Avalon Ventures in 2010 with Floyd
Romesberg, Ph.D., a professor at The Scripps Research Institute (La Jolla, CA)
and two former graduate students of the Romesberg Lab. Avalon Ventures formed
the company, then seeded and led the Company's Series A financing, which also
included an investment from Correlation Ventures.

"We see a unique opportunity to apply Genentech's expertise in drug discovery
and development with the innovation and focus of RQx, to develop a new class
of novel drug compounds," said James Sabry, senior vice president of
partnering at Genentech.

About RxQ Pharmaceuticals, Inc.

RQx Pharmaceuticals is a biopharmaceutical company developing broad-spectrum
small molecule antibiotics to combat serious life threatening infections,
including those caused by multi drug-resistant Gram-negative bacteria. To
address the growing threat of MDR bacteria, RQx is developing novel,
first-in-class antibiotics that evade the current abundance of antibiotic
resistance mechanisms, which are now common across the globe. RQx is inspired
by the synergies possible when combining naturally produced antibiotics with
modern medical chemistry capabilities and is focused on identifying ideal
target/inhibitor combinations to deliver a pipeline of novel antibiotic
candidates.

SOURCE RQx Pharmaceuticals, Inc.

Contact: Heidi Chokeir, Canale Communications, heidi@canalecomm.com,
619-849-5377
 
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