MDRNA, the Bothell, WA-based developer of RNA interference drug technology, said today it has paid back all of its debt to GE Capital. The company paid back a $5.5 million loan, removing all liens on its intellectual property, equipment or other assets, MDRNA said. The company (NASDAQ: [[ticker:MRNA]]) ran low on cash earlier this year, although it struck a deal with Novartis in March that brought in $7.25 million and raised $10.5 million from investors earlier this month to replenish its balance sheet.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
View all posts by Luke Timmerman
