MDRNA Cuts Deal With Roche

Luke Timmerman2/13/09

MDRNA, the Bothell, WA-based developer of RNA interference drugs, said today it has agreed to license part of its technology for a one-time, non-refundable execution fee from Swiss drug giant Roche. The deal is non-exclusive to Roche, although MDRNA said it will provide enough capital for the company to pursue other non-exclusive licensing and financing opportunities.Shares of MDRNA (NASDAQ: MRNA) climbed by more than 30 percent, to 33 cents, after the announcement. The company has been running low on cash.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.