Pappas Capital Announces the Passing of…

ProNAi Therapeutics Inc. (Kalamazoo, Mich.) partnered with Marina Biotech Inc. (OTCQX:MRNA) to use Marina's Smarticles liposomal delivery technology to develop single-strand oligonucleotides to treat cancer through DNA interference (DNAi). Marina is eligible to receive up to $14 million per gene target in total upfront and milestone payments, plus royalties. ProNAi has the option to select any number of additional targets. Marina acquired the Smarticles technology from novosom AG (Halle, Germany) in 2010.

ProNAi's lead DNAi product -- PNT2258 -- uses the Smarticles technology under a 2007 licensing deal with novosom. PNT2258, which targets the B cell lymphoma 2 (BCL-2; BCL2) gene, is in Phase I testing for solid tumors.