Pharma company Resverlogix to spin off unit

[riky]

Pharma company Resverlogix to spin off unit

(Reuters) - Canadian pharmaceutical company Resverlogix Corp, which is exploring a sale, said it would spin off its RVX Therapeutics Inc unit. Resverlogix shares touched a more than two-year high of C$3.49 in early trading on the Toronto Stock Exchange. Shareholders will receive one share in the new company for every share held in Resverlogix, the company said. The spun-off unit will focus on epigenetics, the study of the mechanisms that activate and de-activate genes. The company, which has a market capitalization of about C$242 million ($237. ...

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