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MDRNA, Inc. Resizes Board of Directors
| Source: MDRNA, Inc.
BOTHELL, WA--(Marketwire - May 21, 2009) - MDRNA, Inc. (NASDAQ : MRNA ) announced today that
as a result of its 2009 annual meeting on May 20, 2009, it has resized its
Board of Directors to establish a five person Board consistent with the
Company's cost containment efforts and overall focus as an RNAi drug
discovery and pre-clinical biotech company. The new Board of Directors,
effective immediately, will consist of Bruce R. Thaw, Esq., Chairman of the
Board; Daniel Peters; James E. Rothman, Ph.D.; Gregory Sessler and J.
Michael French, MDRNA President & CEO. Retiring members of the Board of
Directors are Steven C. Quay, M.D., Ph.D., Alex Cross, Ph.D., and Jack
Pollock.
"I would like to express my thanks to the retiring members of the Board,
Dr. Steven Quay, Dr. Alex Cross, and Mr. Jack Pollock, for their service
and contributions to the Company," stated J. Michael French, President and
Chief Executive Officer of MDRNA. "Given the current business climate,
global economic situation and our focus on the discovery and pre-clinical
development of novel siRNA therapeutics and delivery systems, the entire
Board of Directors determined that it was in the best interest of the
Company to establish a smaller number of directors. I believe the directors
of the new Board have the right combination of knowledge, skills and
experience needed to help us continue to build the premier RNAi company in
the space. I look forward to working closely with my fellow Directors to
effect a successful execution of our 2009 business plan and continue to
build value for our shareholders."
About MDRNA, Inc.
MDRNA is a biotechnology company focused on the development and
commercialization of therapeutic products based on RNA interference (RNAi).
Our goal is to improve human health by combining novel RNAi-based compounds
and proprietary peptide- and liposomal-based drug delivery technologies to
provide superior therapeutic options. Our multi-disciplinary portfolio of
capabilities includes molecular biology, cellular biology, formulation
expertise, peptide and alkylated amino acid chemistry, pharmacology,
toxicology and bioinformatics. We are applying this expertise to a single,
integrated drug discovery platform that will be the engine for our clinical
pipeline and a versatile platform for establishing broad therapeutic
partnerships. We are also building on new technologies, such as UsiRNAs
that incorporate the non-nucleotide moiety Unlocked Nucleobase Analog (UNA)
within the siRNA molecule, that we expect to lead to safer and more
effective RNAi-based therapeutics. By combining broad expertise in siRNA
science with proven delivery platforms and a strong and growing IP
position, MDRNA is well positioned as a leading RNAi therapeutics company
and value-added collaborator for our research partners. Additional
information about MDRNA, Inc. is available at http://www.mdrnainc.com.
MDRNA Forward-Looking Statement
Statements made in this news release may be forward-looking statements
within the meaning of Federal Securities laws that are subject to certain
risks and uncertainties and involve factors that may cause actual results
to differ materially from those projected or suggested. Factors that could
cause actual results to differ materially from those in forward-looking
statements include, but are not limited to: (i) the ability of MDRNA to
obtain additional funding; (ii) the ability of MDRNA to attract and/or
maintain manufacturing, research, development and commercialization
partners; (iii) the ability of MDRNA and/or a partner to successfully
complete product research and development, including preclinical and
clinical studies and commercialization; (iv) the ability of MDRNA and/or a
partner to obtain required governmental approvals; and (v) the ability of
MDRNA and/or a partner to develop and commercialize products that can
compete favorably with those of competitors. Additional factors that could
cause actual results to differ materially from those projected or suggested
in any forward-looking statements are contained in MDRNA's most recent
periodic reports on Form 10-K and Form 10-Q that are filed with the
Securities and Exchange Commission. MDRNA assumes no obligation to update
and supplement forward-looking statements because of subsequent events.