MDRNA signs agreement with Novartis

MDRNA Inc., a Bothell-based biotechnology company working on RNA-interference drug technology, is signing a licensing agreement with Novartis, the Swiss health care company. MDRNA will receive $7.25 million in upfront fees for the non-exclusive license to its liposomal technology platform for siRNA delivery. Additionally, the companies have entered into a separate agreement, which provides Novartis with an exclusive period to negotiate a research and development collaboration and broader licensing rights related to MDRNA’s RNAi drug delivery platform.

“We are pleased to enter into this agreement with Novartis, a global leader in the field of RNAi-based therapeutics,” stated J. Michael French, President and Chief Executive Officer of MDRNA. “We view this license as yet another important validation of our siRNA technologies and we look forward to a strong and growing relationship with Novartis.”

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