Marina Biotech develops oligonucleotide therapeutics and delivery technologies, including siRNAs, microRNA mimics, antagomirs, antisense compounds, and messenger RNA therapeutics. The company built its technologies via a roll-up strategy to modulate specific proteins for rare and orphan diseases. Its delivery technologies are in human trials through licensees ProNAi Therapeutics and Mirna Therapeutics, covering single- and double-stranded payloads. Marina Biotech's pipeline includes a clinical program in Familial Adenomatous Polyposis and a preclinical program in myotonic dystrophy. Its chemistries and delivery technologies have been validated through license agreements with Roche, Novartis, MiNA, Monsanto, and Tekmira. Following FDA Fast Track designation for CEQ508, the company said it would use new financing to focus on business development and pursue non-dilutive capital opportunities. Marina Biotech is an oligonucleotide therapeutics company with a broad drug-discovery platform for single- and double-stranded nucleic acid therapeutics, including siRNAs, microRNA mimics, antagomirs, antisense compounds, and messenger RNA therapeutics. The platform was assembled via a roll-up strategy and the company highlights delivery technologies validated through license agreements with Roche, Novartis, Monsanto, and Tekmira and clinical delivery via licensees ProNAi Therapeutics and Mirna Therapeutics. Its pipeline includes a clinical program in Familial Adenomatous Polyposis (START-FAP) and preclinical programs in bladder cancer and myotonic dystrophy. Management announced a $6 million convertible preferred stock financing plus conversion of a promissory note and said the proceeds will be applied to ongoing operations and that conversion restored rights to the company’s intellectual property estate. The company plans to use proceeds to regain compliance with Exchange Act reporting, explore up-listing to a national securities exchange, pursue licensing and partnering opportunities with large pharmaceutical companies, settle liabilities, and reestablish strategic partnerships. Marina intends to establish a small Boston-area footprint, rely on contract research organizations and academic centers to advance rare disease programs, and focus resources on its preclinical and clinical development work.

Total raised

$6M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2014