Pharma company Resverlogix to spin off unit Mon Apr 8, 2013 10:57am EDT (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 ($237.20 million), said it will continue the clinical development of RVX-208, an experimental drug for treating hardening of the arteries. The drug accounts for the entire market value of Resverlogix. The drug met the main goal of a mid-stage trial of significantly increasing HDL-C (HDL), or "good" cholesterol levels, in August. Calgary, Alberta-based Resverlogix said the new company's shares will not be listed initially. Reporting by Krithika Krishnamurthy in Bangalore