Biotech, deals, RNA Interference

MDRNA Pays Off $5.5M Debt

Luke Timmerman 6/16/09

MDRNA, the Bothell, WA-based developer of RNA interference drug technology, said today it has paid back all of its debt to GE Capital. The company paid back a $5.5 million loan, removing all liens on its intellectual property, equipment or other assets, MDRNA said. The company (NASDAQ: MRNA) ran low on cash earlier this year, although it struck a deal with Novartis in March that brought in $7.25 million and raised $10.5 million from investors earlier this month to replenish its balance sheet.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.