MDRNA Nabs $7.25M From Novartis
Luke Timmerman3/23/09
MDRNA, the Bothell, WA-based developer of RNA interference technology for drug development, said today it agreed to provide a non-exclusive license its technology to Novartis in exchange for $7.25 million in upfront fees. MDNRA (NASDAQ: MRNA) also negotiated a separate deal that gives Novartis an exclusive period in which it can strike a larger R&D collaboration with MDRNA, although terms of that deal weren’t disclosed. MDRNA, which has run low on cash, plans to report its fourth quarter financial results tomorrow.
