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Marina Biotech Announces Worldwide Non-Exclusive Licensing Agreement
Marina Biotech, Inc. has announced that it has entered into a licensing agreement with Novartis for Marina Biotech's Conformationally Restricted Nucleotide (CRN) technology for the development of both single- and double-stranded oligonucleotide therapeutics.
Marina Biotech will receive $1 million in upfront fees for the non-exclusive license.
"We are pleased to enter into this agreement with Novartis, a global leader in the development of human therapeutics," stated J. Michael French, President and Chief Executive Officer of Marina Biotech.
French continued, "Marina's CRN is quite versatile and can be used to create stable, highly active oligonucleotide therapeutics and, in particular, both single- and double-stranded oligos. We view this license as yet another important validation of our nucleic acid-based drug discovery."
