Pryor Cashman Represents Marina Biotech, Inc. in Registered Direct Offering
Pryor Cashman represented Marina Biotech, Inc. (NASDAQ: MRNA) in a registered direct offering of up to $8.7 million of common stock and subscription units which closed on November 5, 2010. Marina Biotech is a biotechnology company focused on the development and commercialization of therapeutic products based on RNA interference.
Marina Biotech anticipates using a portion of the net proceeds from the financing to fund development of its recently acquired compound for Familial Adenomatous Polyposis, pre-IND expenses associated with pre-clinical programs in bladder and liver cancer, and research and development expenses associated with its RNAi drug discovery platform.
Representing Marina Biotech on the transaction were Pryor Cashman Partner Larry Remmel and associate Michael T. Campoli.
