Marina Biotech, Inc. (Formerly Known as MDRNA, Inc.) Announces Allowance of European Patent Covering Its Proprietary Peptide-siRNA Conjugate Delivery Platform

BOTHELL, WA--(Marketwire - December 17, 2010) - Marina Biotech, Inc. (NASDAQ: MRNA), a leading RNAi-based drug discovery and development company, today announced that the European Patent Office intends to grant a patent for application EP0780087 broadly covering peptide-siRNA conjugates for the delivery of siRNA to cells. The claims broadly cover a peptide conjugated to an siRNA, independent of sequence.

“The advancement of safe and effective RNAi-based delivery systems remains a key goal for Marina Biotech in our efforts to discover and develop novel RNAi-based therapeutics,” stated J. Michael French, President and CEO of Marina Biotech, Inc. “We strongly believe that there is no single delivery system that will provide the qualities necessary for the safe and effective delivery of RNAi-based therapeutics broadly across human disease. Therefore, we have built, or acquired, an extensive siRNA delivery platform which encompasses a variety of delivery technologies including amino acid chemistry, amphoteric liposomes, bacterial based mediated gene silencing as well as peptide and peptide conjugate based approaches. In connection with this recent European allowance, we are amassing a significant intellectual property estate covering a peptide-based delivery system including targeting peptides derived from our patented phage display peptide library, nucleic acid condensing peptides, and peptide-nucleic acid conjugates. We are pleased to see allowances of this particular delivery-based patent as well as the target-based patents as evidence of our comprehensive and broad patent portfolio.”

In addition, the Company announced that the Intellectual Property Office of New Zealand (IPONZ) has issued a Notice of Acceptance for patent application 563845, titled “RNAi Therapeutics for Respiratory Virus Infection.” Allowed claims cover siRNA directed against the PB2 and may be used to treat or prevent influenza. Further, the Mexican Institute of Industrial Property issued patent application MX/a/2007/003667, titled “Methods of Treating an Inflammatory Disease by Double-Stranded Ribonucleic Acid.” Allowed claims cover siRNA directed against the tumor necrosis factor (TNF) gene and may be used for treating multiple inflammatory diseases.

About Marina Biotech, Inc.

Marina Biotech is a biotechnology company, focused on the development and commercialization of therapeutic products based on RNA interference (RNAi). The Marina Biotech pipeline currently includes a clinical program in Familial Adenomatous Polyposis (a precancerous syndrome) and two preclinical programs -- in hepatocellular carcinoma and bladder cancer. Marina Biotech’s goal is to improve human health through the development of RNAi-based compounds and drug delivery technologies that together provide superior therapeutic options for patients. Marina Biotech’s global portfolio includes 66 issued or allowed patents; 56 U.S. patent applications; 142 foreign patent applications; and 8 PCT applications providing broad coverage for siRNAs, chemistry, delivery and gene targets Additional information about Marina Biotech is available at http://www.marinabio.com.

Forward-Looking Statements

Statements made in this news 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 Marina Biotech to obtain additional funding; (ii) the ability of Marina Biotech to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of Marina Biotech and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of Marina Biotech and/or a partner to obtain required governmental approvals; and (v) the ability of Marina Biotech and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Marina Biotech’s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Marina Biotech assumes no obligation to update and supplement forward-looking statements because of subsequent events.