Friday, April 7, 2017

Marina Biotech, Inc. (MRNA) Sets Further Development of Drug Candidates IT-102 and IT-103, Signs Windlas Healthcare Manufacturing Agreement

Marina Biotech Inc. (OTCQB: MRNA) filed a 10K with the SEC on April 5, 2017, for its year ended December 31, 2016. The late stage biopharmaceutical company summarized its achievements in 2016 and provided an outlook into its 2017 performance, including its planned clinical trials in 2018. Marina Biotech specializes in creating and commercializing innovative therapies for treatments of cancer, hypertension, and arthritis.

The firm plans to move by the first quarter of 2018 into a phase 3 clinical study of its drug candidate, IT-102, a fixed dose combination (FDC) bi-layer tablet, said Joseph Ramelli, chief executive officer of Marina Biotech. It recently signed an agreement for Windlas Healthcare Limited to manufacture the tablet, positioning Marina Biotech for the Phase 3 study. That India-based firm has facilities that are approved by the Food & Drug Administration (FDA) in the U.S., as well as the European Union Good Manufacturing Practices (EU cGMP).

The company also reported:

-Marina Biotech expanded its unsecured credit line from its chairman, Dr. Vuong Trieu, on April 4, 2017, for an additional $500,000. The initial line was for $540,000 secured last November. The company had drawn down $250,000 of that by December 31, 2016. The company also secured another line of credit from Autotelic, Inc., for the commercialization of IT-102 and IT-103.

-The company announced that it has completed its merger with IThena Pharma, enabling it to advance its development of combination tablets for arthritis, pain, cancer and hypertension. The transaction with IThena Pharma has put in motion a new pipeline by Marina Biotech that advances its development of combination therapies.

-Marina Biotech announced the results of new preclinical and clinical data for its drug candidates IT-102 and IT-103. These results support the further development of both for the treatment of hypertension/pain, Ramelli said. Among these results was the indication that IT-102 and IT-103 could serve as unique anticancer agents.

-In February of 2017 the company entered into a licensing agreement with LipoMedics, under which Marina Biotech could receive up to $90 million in milestone payments which are success based. Under that agreement, Marina Biotech gave a license to LipoMedics for its SMARTICLES platform for the delivery of nanoparticles, including small molecules.

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