BOTHELL, WA, Mar 23, 2009 (MARKET WIRE via COMTEX) -- MDRNA, Inc. (NASDAQ: MRNA) announced today that it has entered into
a licensing agreement with Novartis for MDRNA's liposomal technology
platform for siRNA delivery. MDRNA will receive $7.25 million in
upfront fees for the non-exclusive license. Additionally, the
companies have entered into a separate agreement, which provides
Novartis with an exclusive period to negotiate a research and
development collaboration and broader licensing rights related to
MDRNA's RNAi drug delivery platform. Terms of this separate agreement
were not disclosed.
"We are pleased to enter into this agreement with Novartis, a global
leader in the field of RNAi-based therapeutics," stated J. Michael
French, President and Chief Executive Officer of MDRNA. "MDRNA's DiLA2
technology for siRNA delivery is effective and efficient at silencing
gene targets in the liver and jejunum. Further, the in vivo
tolerability of the DiLA2 technology is excellent. We have not
observed any delivery related adverse effects in the liver as
measured by typical serum chemistries or any significant increases in
cytokine levels, which are hallmarks of cell damage. We view this
license as yet another important validation of our siRNA technologies
and we look forward to a strong and growing relationship with
Novartis."
About the DiLA2 Platform
The DiLA2 Platform is MDRNA's proprietary technology platform for
creating novel liposomal delivery systems from amino acids. The DiLA2
Platform enables MDRNA to tailor the charge, linker and acyl chains of
amino acids in order to optimize the liposome for delivery to the
target tissue of interest. In addition, the DiLA2 Platform is
designed to permit attachment of various peptides and other targeting
molecules to improve a variety of delivery characteristics. In
addition, MDRNA is utilizing peptides for nanoparticle formulations
to increase cellular uptake and endosomal release.
About MDRNA, Inc.
MDRNA is a biotechnology company focused on the development and
commercialization of therapeutic products based on RNA interference
(RNAi). Our goal is to improve human health through the development of
RNAi-based compounds and drug delivery technologies that together
provide superior therapeutic options for patients. Over the past
decade, we have developed substantial capabilities in molecular
biology, cellular biology, lipid chemistry, peptide chemistry,
pharmacology and bioinformatics, which we are applying to a wide
range of RNAi technologies and delivery approaches. These
capabilities plus the in-licensing of key RNAi-related intellectual
property have rapidly enabled us to become a leading RNAi-based
therapeutics company with a pre-clinical pipeline in key therapeutic
areas including oncology, metabolic disorders and inflammation.
Through our capabilities, expertise and know-how, we are
incorporating multiple RNAi technologies as well as peptide- and
lipid-based delivery approaches into a single integrated drug
discovery platform that will be the engine for our clinical pipeline
as well as a versatile platform for establishing broad therapeutic
partnerships with biotechnology and pharmaceutical companies. We are
also investing in new technologies that we expect to lead to safer
and more effective RNAi-based therapeutics while aggressively
building upon our broad and extensive intellectual property estate.
By combining broad expertise in siRNA science with proven delivery
platforms and a strong IP position, MDRNA is well positioned as a
leading RNAi-based drug discovery and development company. Additional
information about MDRNA, Inc. is available at
http://www.mdrnainc.com.
MDRNA Forward-Looking Statement
Statements made in this news release may be forward-looking
statements within the meaning of Federal Securities laws that are
subject to certain risks and uncertainties and involve factors that
may cause actual results to differ materially from those projected or
suggested. Factors that could cause actual results to differ
materially from those in forward-looking statements include, but are
not limited to: (i) the ability of MDRNA or a subsidiary to obtain
additional funding; (ii) the ability of MDRNA or a subsidiary to
attract and/or maintain manufacturing, research, development and
commercialization partners; (iii) the ability of MDRNA, a subsidiary
and/or a partner to successfully complete product research and
development, including preclinical and clinical studies and
commercialization; (iv) the ability of MDRNA, a subsidiary and/or a
partner to obtain required governmental approvals; and (v) the
ability of MDRNA, a subsidiary and/or a partner to develop and
commercialize products that can compete favorably with those of
competitors. Additional factors that could cause actual results to
differ materially from those projected or suggested in any
forward-looking statements are contained in MDRNA's most recent
periodic reports on Form 10-K and Form 10-Q that are filed with the
Securities and Exchange Commission. MDRNA assumes no obligation to
update and supplement forward-looking statements because of
subsequent events.
Contact:
Matthew D. Haines
Senior Director, Investor Relations and Corporate Communications
(212) 209-3874
Email Contact
McKinney|Chicago (Media)
Alan Zachary
(312) 944-6784 x 316 or
(708) 707-6834
Email Contact
SOURCE: MDRNA, Inc.
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