Former investment banker Melody Carey started her public relations career at Noonan Russo, while her partner Rhonda Chiger worked at Dewe Rogerson and Thomson Financial, so they bring to Rx Communications a wealth of investor relations experience and an in-depth knowledge of the healthcare and life science sectors. Meanwhile, its business model—Rx is staffed by senior investor relations and media relations counselors who have established contacts in the banking, analyst, institutional investor and venture capital communities as well as the media—set it even further apart. As a result, Rx has built a reputation as a leader in its niche in four short years.
Rx has worked with a wide range of life sciences and healthcare clients, but many of its clients are small cap, emerging companies, and as a result the firm tends to work as a strategic partner, securing increased coverage in the financial community as well as the media, helping clients position themselves for future growth. The firm has facilitated valuable analyst coverage for clients, helped others increase their institutional shareholding, and assisted private and public companies in securing venture capital and PIPE fundings. In July 2007, Rx expanded on its core business with the launch of OTC Communications, a new division created to address the unique needs of micro-cap life science and healthcare companies, with a particular focus on companies whose market capitalizations are under $100 million.
Revenues were up about 13 percent in 2007, with new business from Catalyst Pharmaceutical Partners, Curidium Medica, MediciNova, Rexahn Pharmaceuticals and Redpoint Bio. Notable assignments over the past 12 months include leading communications with the investment community on behalf of Columbia Laboratories, to stabilize investor selling following a failed Phase II trial and working to more than double the market cap of American CareSource Holdings by building relationships with investors in the