Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE

Marina Biotech Announces Merger with IthenaPharma

By Marina Biotech, Inc. | November 16, 2016

Marina Biotech, Inc. announced that it has signed a definitive merger agreement with IthenaPharma Inc., a company focused on the development and commercialization of combination products for pain, arthritis, hypertension, and cancer. IthenaPharma is a part of the Autotelic Inc. consortium of companies. The merger closed on November 15, 2016.

Under the terms of the merger agreement, Marina Biotech is issuing approximately 53,097,022 shares of its common stock, representing approximately 64% of the issued and outstanding shares of its common stock immediately following the completion of the merger, to the stockholders of IthenaPharma. Marina Biotech is also assuming warrants to purchase 300,000 shares of IthenaPharma common stock, which warrants will be exercisable for approximately 2.87 million shares of Marina Biotech common stock.

In addition, in order to support the combined company, Dr. Vuong Trieu has committed to funding the operations of Marina with a line of credit of $540,000 as well as operational support at Autotelic. Marina will grant two board seats to IthenaPharma, with the first going to Dr. Vuong Trieu, the chairman of the board of Autotelic, Inc., who will also become chairman of the board of Marina immediately following the closing of the merger, and the second board seat to a person reasonably acceptable to Marina Biotech to be nominated by Mr. Trieu after deal closing.

The merger with IthenaPharma will give Marina Biotech a path to revenue and profitability, with the potential for two commercial products by 2019. In addition, scientists at both companies see synergies between IthenaPharma’s drugs and Marina’s CEQ508 drug, unlocking its potential to treat not only familial adenomatous polyposis (FAP) but colorectal cancer in general. Both drugs target Beta-catenin and it is anticipated that within one year following the completion of the merger we would able enter clinical testing against colorectal cancer. The synergy of the combination is anticipated to de-risk and accelerate Marina Biotech’s clinical development program.

Trieu currently serves as chairman of the board for the Autotelic consortium of companies including Oncotelic, Stocosil, IthenaPharma, LipoMedics, and Autotelic Inc. Previously he was president and CEO of Igdrasol, a developer of 2nd generation Abraxane.

(Source: Marketwired)

Related Articles Read More >

This is a screenshot from a Varda Space Industries promotional video showing a space capsule with the company's logo docking onto a satellite.
Varda raises $187M Series C for drug manufacturing in space
This is the logo of Hikma.
Hikma to spend another $1B on US manufacturing, R&D
Great Point Partners logo.
Great Point Partners acquires majority stake in Eutecma to fuel sustainable cold chain growth
Driving success in fast-paced high-tech pharma construction projects
“ppw
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news, technologies, and developments in Pharmaceutical Processing.

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Pharmaceutical Processing World
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index
  • R&D 100 Awards

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE