Contact Information: Contacts: Matthew D. Haines Senior Director, Investor Relations and Corporate Communications (212) 209-3874 McKinney|Chicago (Media) Alan Zachary (312) 944-6784 x 316 or (708) 707-6834
MDRNA, Inc. Announces Closing of $10.5 Million Registered Direct Financing
| Source: MDRNA, Inc.
BOTHELL, WA--(Marketwire - June 12, 2009) - MDRNA, Inc. (NASDAQ : MRNA ) announced today that
it has closed its previously announced sale of 5.25 million shares of its
common stock and warrants to purchase 5.25 million shares of its common
stock for gross proceeds of $10.5 million. MDRNA sold the shares for $2.00
per share. The exercise price of the warrants is $2.38 per share. The
warrants, with a five and a half year term, will be exercisable six months
from June 12, 2009. MDRNA plans to use the proceeds from this financing for
general corporate purposes as more fully described in the financing
documents.
Canaccord Adams Inc. served as sole placement agent in the transaction.
A registration statement relating to these securities (File # 333-148771)
has been declared effective by the Securities and Exchange Commission. This
press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction. Any offer of these securities will be solely by means of
a prospectus included in the registration statement and any prospectus
supplement that may be issued with respect to such offering. Copies of the
final prospectus, including the prospectus supplement, can be obtained at
the Securities and Exchange Commission's website, www.sec.gov, or via
written request to MDRNA, Inc., 3830 Monte Villa Parkway, Bothell, WA,
98021. Attention: Investor Relations.
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.
Forward-Looking Statements
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.