Marina Biotech and MiNA Therapeutics Announce License Agreement for the Development of saRNA-Based Therapeutics

BOTHELL, WA and SAN DIEGO, CA--(Marketwired - Dec 18, 2014) - Marina Biotech, Inc. (OTCQB: MRNA), a leading nucleic acid-based drug discovery and development company focused on rare diseases, and MiNA Therapeutics Limited, the pioneer in RNA activation therapeutics, announced today that they have entered into a license agreement regarding the development and commercialization of small activating RNA (saRNA) based therapeutics utilizing MiNA's proprietary oligonucleotides and Marina's novel SMARTICLES nucleic acid delivery technology. MiNA 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 $50 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.

"MiNA is focused on rapidly translating the benefits of saRNA therapeutics into the clinic," said Robert Habib, CEO of MiNA Therapeutics. "SMARTICLES have demonstrated highly efficient delivery of saRNAs to the liver and solid tumors along with a strong clinical track record and robust manufacturing. The formulation of saRNAs with SMARTICLES both accelerates and de-risks the development of MiNA's technology platform."

"SMARTICLES is the most widely licensed delivery technology in the nucleic acid therapeutics sector now licensed to deliver single-stranded DNA oligonucleotides, double-stranded microRNA mimics and both single and double-stranded small activating RNA," stated J. Michael French, president and CEO of Marina Biotech. "In addition, I believe it is also the most widely used delivery technology in human clinical studies for the development of nucleic acid therapeutics. We are excited to be partnered with the pioneer in RNA activation therapeutics and look forward to the rapid advancement of MiNA's compounds into human clinical development. We're confident the world class team at MiNA will be successful in their endeavors."