Marina Biotech Announces $6 MM Convertible Preferred Stock Financing and Conversion to Common Stock of the Company’s Promissory Note

Marina Biotech Announces $6 MM Convertible Preferred Stock Financing and Conversion to Common Stock of the Company’s Promissory Note

Company to Advance Its Preclinical and Clinical Rare Disease Programs

BOSTON, MA–(Marketwired – Feb 24, 2014) – Marina Biotech, Inc. (PINKSHEETS: MRNA), a leading oligonucleotide-based drug discovery and development company focused on rare diseases, announced today that it has entered into a binding term sheet with certain qualified investors, led by Steven T. Newby, a long-time biotechnology investor, for the issuance of convertible preferred stock at a conversion price equivalent to $0.75 per share of common stock resulting in gross proceeds of $6 million. In addition, the Company will issue to the investors warrants to purchase 6 million shares of common stock. The warrants will have an exercise price of $0.75 per share and are exercisable for a period of five years after the Company regains compliance with its reporting obligations under the Securities Exchange Act. The offering is expected to close on or about March 7, 2014, subject to the execution of a customary Securities Purchase Agreement regarding the transaction and the satisfaction of customary closing conditions. The Company also announced that the holders of the Company’s Promissory Note have agreed to convert the remaining principal and interest on the Note to common stock at a conversion price of $0.75 and release their lien on the Company’s intellectual property. Proceeds from the financing will be used to restart certain day-to-day operations, repay the Company’s outstanding obligations, regain compliance with the Company’s Exchange Act reporting obligations and advance the Company’s preclinical and clinical rare disease programs.

Marina Biotech, Inc. (Formerly Known as MDRNA, Inc.) and Mirna Therapeutics, Inc. Announce License Agreement for Up to $63 Million for the Development

BOTHELL, WA and AUSTIN, TX–(Marketwire – December 23, 2011) – Marina Biotech, Inc. (NASDAQ: MRNA), a leading oligonucleotide-based drug discovery and development company, and Mirna Therapeutics, Inc. (Mirna), a privately-held biotechnology company pioneering microRNA (miRNA) replacement therapy for cancer, announced today that they have entered into a license agreement regarding the development and commercialization of microRNA-based therapeutics utilizing Mirna’s proprietary microRNAs and Marina Biotech’s novel SMARTICLES liposomal delivery technology. Mirna will have full responsibility for the development and commercialization of any products arising under the Agreement and Marina Biotech will support pre-clinical and process development efforts. Under terms of the Agreement, Marina Biotech could receive up to $63 million in total upfront, clinical and commercialization milestone payments, as well as royalties on sales, based on the successful outcome of the collaboration. Further terms of the Agreement were not disclosed.

Marina Biotech and The Debiopharm Group Partner to Develop and Commercialize RNAi-Based Therapies for the Treatment of Bladder Cancer

 
February 3, 2011

The Debiopharm Group (Debiopharm), a global independent biopharmaceutical development group of companies with a main focus in oncology and serious medical conditions, and Marina Biotech, Inc. (NASDAQ: MRNA), a leading RNAi-based drug discovery and development company, announced today that they entered into an exclusive agreement concerning the development and commercialization of Marina Biotech’s pre-clinical program in bladder cancer.

Marina Biotech announces first human use of its proprietary delivery technology

 

BOTHELL, WA–(Marketwire – September 22, 2010) – Marina Biotech, Inc. (NASDAQ: MRNA), a leading RNA-based drug discovery and development company, today announced that the first patient has received a novel cancer therapeutic candidate formulated in the Company’s proprietary SMARTICLES(R) delivery technology. ProNAi Therapeutics Inc., a privately held biopharmaceutical company and licensee of the SMARTICLES technology, dosed their first patient in a Phase I clinical study of PNT2258 in patients with advanced solid tumors. PNT2258 is an oligonucleotide therapeutic encapsulated within a SMARTICLES formulation. The SMARTICLES delivery technology was developed by Novosom AG and acquired by Marina Biotech in July 2010. The SMARTICLES delivery technology is part of a broad and comprehensive patent estate surrounding amphoteric liposomal delivery now owned by Marina Biotech.