The planned change in corporate structure will enable to continue its focus on the development of peptide and protein drug delivery technologies while better positioning MDRNA for strategic alliances and direct investment as it develops RNAi therapeutics targeting a broad range of diseases. The establishment of MDRNA as an independent company will also allow it to be better compared and valued relative to other companies in the field of RNAi therapeutics.
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steps with MDRNA are to complete a series of operating agreements with , obtain external financing to fund MDRNA's operations separate from , and to transfer employees from to MDRNA. siRNAs are double stranded RNA molecules that are able to silence a gene in a sequence specific manner by degradation of the target messenger RNA. In the case of an siRNA directed against influenza, the target is one or more genes that encode proteins critical for viral replication. If siRNAs are successful at turning off the production of such proteins, the spread of infection would be prevented or slowed. 's RNAi research and development programs seek to develop safe and effective therapeutics by identifying key protein targets, designing the siRNA that will turn off the production of the targeted proteins, and developing a formulation for the delivery of this potential new class of therapeutics.
David Schull (Media)Source: Pharmaceutical Company Inc.
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additional funding; (ii) the ability of to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) 's and/or a partner's ability to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) 's and/or a partner's ability to obtain required governmental approvals; and (v) 's and/or a partner's ability to develop and commercialize products that can compete favorably with those of competitors. Additional Beats Olympic Edition factors that could cause actual results to differ materially from those projected or suggested in any forward looking statements are contained in 's most recent periodic reports on Form 10 K and Form 10 Q that are filed with the Securities and Exchange Commission. assumes no obligation to update and supplement forward looking statements because of subsequent events.
"The establishment of MDRNA as an independent company will better serve our shareholders by providing a structure which will help us unlock the value of 's RNAi assets as well as expedite the development of new therapeutics based on this new technology," stated Steven C. "We have developed a proprietary platform for the creation and delivery of novel RNAi therapeutics with several candidate molecules in development. We look forward to recognizing the value of this innovative work."
Nastech Pharmaceutical Company Inc to Establish Subsidiary MDRNA as an Independent Company to Focus on the Development of RNA Based Therapeu
BOTHELL, Wash., Nov. 13 /PRNewswire FirstCall/ Pharmaceutical Company Inc. ("") (Nasdaq: NSTK News) announced today that the Board of Directors has approved the recommendation of its Special Committee to move forward with the process of establishing 's wholly owned subsidiary, MDRNA, Inc. ("MDRNA"), as an independent company. is transferring its intellectual property and agreements related to RNA interference ("RNAi") into MDRNA. The new structure will give the ability to pursue independent investment to fund MDRNA's operations. plans to pursue such funding in the near term, subject to market conditions, and expects to retain significant ownership in MDRNA following such financing. In addition, intends, subject to change based on market conditions or future change in strategy, to thereafter issue a dividend to 's shareholders of a portion of the MDRNA equity held by , and to Beats By Dre Black And White
effect the public trading of those securities through a Form 10 filing.
Statements made in this press release may be forward looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to: (i) the ability of to obtain Beats Dre Headphones Review
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