Pryor Cashman represented Marina Biotech, Inc., a leading oligonucleotide-based drug discovery and development company (NASDAQ: MRNA), in a $5 million private placement with Socius CG II, Ltd., a Bermuda-based subsidiary of Socius Capital Group, LLC.

The financing, which was announced on December 23, 2011, involves the issuance by Marina Bio of redeemable Series B Preferred Stock, Additional Investment Rights and Warrants. 

Partner Larry Remmel, Chair of Pryor Cashman’s Banking and Finance Group, and Corporate Counsel Michael T. Campoli represented Marina Biotech in the transaction.