Business
Windlas Healthcare Invests $2 Million in Working Capital to Support Marina Biotech’s Manufacturing Initiatives
Windlas Healthcare Invests $2 Million in Working Capital to Support Marina Biotech’s Manufacturing Initiatives.
About this update from Adhera Therapeutics Inc.
[{"type":"text","content":"\n\n CITY OF INDUSTRY, Calif., Aug. 21, 2017 (GLOBE NEWSWIRE) -- Marina Biotech, Inc. (OTCQB:MRNA) (OTCQB:MRNAD) (‘Marina’ or the ‘Company’) a biopharmaceutical company focused on the development and commercialization of innovative therapeutics for disease intersections of arthritis, hypertension, and cancer, today announced that its manufacturing partner, Windlas Healthcare Limited (‘Windlas’), has agreed to invest $2 million in working capital to support Marina Biotech’s manufacturing initiatives of its marketed product and its pipeline. In March of 2017, the Company signed a definitive manufacturing agreement with Windlas.\n Joseph W. Ramelli, CEO of Marina Biotech, commented, “We are very pleased that Windlas Healthcare has broadened our initial definitive manufacturing agreement with a $2 million working capital investment. It is a testament to their belief in our vision. The investment will reduce the amount of capital needed for the company to execute on its plans. Marina is at a critical inflection point and uniquely positioned to move forward quickly through commercialization and clinical testing for the often neglected disease intersection of pain and hypertension.” About Windlass Healthcare LimitedWindlass Healthcare Limited (WHC) corporate headquarters is in Gurgaon, India. The company was established in 2008 in Dehradun, and the manufacturing facilities are designed as per the US Food and Drug Administration (US FDA), and European Union current Good Manufacturing Practices (EU cGMP) standards. The manufacturing plant has received approval from USFDA. For more information please visit www.windlashealthcare.com. About Marina Biotech, Inc.Marina Biotech's focus is to treat the intersection of arthritis, pain, hypertension, and oncology diseases using combination therapies of already approved drugs. Marina’s first FDA approved drug, Prestalia®, contains perindopril arginine, an ACE inhibitor, and amlodipine, a dihydropyridine calcium channel blocker, and is indicated for the treatment of hypertension to lower blood pressure. The company is developing and commercializing late stage, non-addictive pain therapeutics. The company's 'next-generation of celecoxib,' including IT-102 and IT-103, are designed to control the dangerous side-effect of edema that ...