Business
Marina Biotech Announces Closure of Cambridge Site and Consolidation of R&D Operations in Bothell, WA
Marina Biotech Announces Closure of Cambridge Site and Consolidation of R&D Operations in Bothell, WA.
About this update from Adhera Therapeutics Inc.
[{"type":"text","content":"Marina Biotech Announces Closure of Cambridge Site and Consolidation of R&D Operations in Bothell, WACompany initiates dosing in the first patient in Cohort 2 of the START-FAP clinical trialBothell, WA, February 14, 2012 – Marina Biotech, Inc. (OTCQX: MRNA), a leading nucleic acid-based drug discovery and development company, today announced the closure of its Cambridge site and the consolidation of all research and development efforts at its headquarters in Bothell, WA. In addition, the Company announced dosing of the first patient in Cohort 2 in the Dose Escalation Phase of the START-FAP (Safety and Tolerability of An RNAi Therapeutic in Familial Adenomatous Polyposis) clinical trial with CEQ508.“After considerable review, we have decided to close our Cambridge site and transfer those research and development efforts to our headquarters in Bothell, WA,” said J. Michael French, President & CEO of Marina Biotech. “This move will not affect the START-FAP trial as noted by our announcement today of Cohort 2 dosing. Further, we expect to continue to develop the tkRNAi platform in our labs in Bothell. The closing of the Cambridge site is consistent with our continued efforts to reduce our cash utilization. The individuals affected by this decision were all part of the former Cequent team who then, and certainly over the past several years, were instrumental to the development of CEQ508 and the successful execution of the START-FAP trial. I want to thank them for their efforts and wish them all well in their future endeavors.”About Marina Biotech, Inc.Marina Biotech is a biotechnology company focused on the development and commercialization of oligonucleotide-based therapeutics utilizing multiple mechanisms of action including RNA interference (RNAi) and messenger RNA translational blocking. The Marina Biotech pipeline currently includes a clinical program in Familial Adenomatous Polyposis (a precancerous syndrome) and two preclinical programs in bladder cancer and malignant ascites. Marina Biotech entered into an exclusive agreement with The Debiopharm Group for the development and commercialization of the bladder cancer program. In addition, Marina Biotech has recently entered into an agreement with Mirna Therapeutics to license Marina Biotech's SMARTICLES...