Nastech Pharmaceutical Company Inc. has announced that it has assigned certain Nastech licenses to third-party intellectual property and Nastech's own intellectual property, as such intellectual property relates to the development of RNA-based therapeutics, to its subsidiary, MDRNA, Inc.
"The transfer of intellectual property rights for RNA-based therapeutics from Nastech to MDRNA is an important step in the process of creating MDRNA as an independent company. We believe MDRNA independence will ultimately enhance Nastech shareholder value," stated Steven C. Quay, M.D., Ph.D., Chairman, President and CEO of Nastech.
"The MDRNA intellectual property estate includes rights to patents and patent applications covering technologies for the development and delivery of RNA-based therapeutics as well as their use in treating diseases. We believe that this agreement provides a strong foundation for MDRNA and will be important in attracting external funding for MDRNA."