MDRNA Gains Full Rights to Drug Technology

Luke Timmerman6/19/09

MDRNA, the Bothell, WA-based developer of RNA interference drug technology, said today it has renegotiated a key technology license so that it has full control and no longer needs to make future payments for it. MDRNA (NASDAQ: MRNA) bought the rights in October to unlocked nucleobase analog technology from Denmark-based RiboTask, which has been studying its ability to make RNA interference drugs more stable, and less likely to spark inflammation. Terms of the deal with RiboTask weren’t disclosed, although MDRNA raised $10.5 million from investors this month.

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.