On November 16, 2016, it was announced that a wholly-owned subsidiary of Marina Biotech, Inc. (OTCQB: MRNA) – a leading nucleic-acid-based drug discovery and development company focused on rare diseases – had merged with IthenaPharma Inc., pursuant to an Agreement and Plan of Merger that had been negotiated and executed between the parties.  IthenaPharma is a privately-held company focused on the development and commercialization of combination products for pain, arthritis, hypertension and cancer.  Following the completion of the merger, the common stock of Marina Biotech will continue to be traded on the OTCQB Tier of the OTC Markets.

It is anticipated that the merger will give Marina Biotech a clear path to revenue and profitability, with the potential for two commercial products by 2019.  In addition, scientists at both companies see synergies between IthenaPharma’s drugs and Marina Biotech’s CEQ508 drug, unlocking its potential to treat not only familial adenomatous polyposis but colorectal cancer in general. 

Representing Marina Biotech in this deal were Pryor Cashman Partner Lawrence Remmel, along with Counsel Michael T. Campoli – both of whom are members of the firm's nationally-recognized Corporate Group.

More About Pryor Cashman's M&A Practice

Pryor Cashman’s M&A attorneys advise domestic and international clients from a wide range of industries, including pharmaceuticals, energy, software, technology, advertising, apparel, medical supplies and life sciences, on all varieties of business combinations.

Our group has extensive experience handling joint ventures, strategic alliances, collaborative arrangements, equity and asset purchases, unsolicited leveraged buyouts, spinoffs, recapitalizations, PIPEs and restructurings. To learn more about our work in this area, please visit our M&A practice page.