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Marina Biotech Announces the Appointment of Dr. Vuong Trieu as Executive Chairman
Marina Biotech Announces the Appointment of Dr. Vuong Trieu as Executive Chairman.
About this update from Adhera Therapeutics Inc.
[{"type":"text","content":"\n \n \n Marina Biotech Announces the Appointment of Dr. Vuong Trieu as Executive Chairman\n \n \nMarina Biotech Announces the Appointment of Dr. Vuong Trieu as Executive Chairman\n\nCompany Also Announces Closing of a Note Financing Led by Dr. Trieu and Dr. Hwang, CSO\n\n \n CITY OF INDUSTRY, CA--(Marketwired - Jul 5, 2017) - Marina Biotech, Inc. (OTCQB: MRNA), a biopharmaceutical company focused on the development and commercialization of innovative therapeutics for disease intersections of arthritis, hypertension and cancer, announced today that Dr. Vuong Trieu, has been appointed to serve as Executive Chairman after having served as Chairman of the Board since November of 2016. As Executive Chairman, Dr. Trieu will take on a more active role in the day-to-day operations of the business and future developments of the Company.\n Joseph Ramelli, CEO of Marina Biotech, stated, \"We are pleased to announce that our Chairman of the Board, Dr. Vuong Trieu, has accepted his appointment as Executive Chairman. The guidance Dr. Trieu has provided in his previous role has been exponential in the development of our growth strategy and product initiatives. His new role will only further deepen his involvement with Marina Biotech.\" \n Additionally, the company announced the closing of a $400,000 unsecured convertible note financing led by Executive Chairman, Dr. Vuong Trieu, and Dr. Larn Hwang, Chief Science Officer. The notes bear interest at a rate of 5%, are due on June 1, 2018 and are convertible into common stock at $0.35 per share. Proceeds from the financing will be used for day-to-day operations and to support the commercial launch of Prestalia, including the recent launch of sales in the state of New York.\n Mr. Ramelli continued, \"Dr. Trieu and Dr. Larn Hwang, CSO of Marina Biotech were lead investors in our convertible note financing demonstrating their belief in the innovation taking place at Marina Biotech, including the development of a next generation celecoxib for use as a substitute for opioids. We are grateful that in addition to all of their hard work and guidance, Vuong and Larn have chosen to give their financial support to the company as well.\"\n About Marina Biotech\n Marina Biotech's focus is to treat the intersection of arthritis, pain, hypertension, and oncology diseases using combination therapies of alre...