Marina Biotech, Inc. (OTCMKTS:MRNA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 28, 2018, the Board of Directors (the “Board”) of Marina Biotech, Inc. (the “Company”) increased the size of the entire Board from six (6) directors to seven (7) directors, and appointed Robert C. Moscato, Jr., the Chief Executive Officer of the Company, to fill the vacancy created thereby, in each case effective July 1, 2018.
Mr. Moscato, age 42, has served as the Chief Executive Officer of the Company since June 18, 2018. He is a serial pharmaceutical entrepreneur who has amassed his knowledge during more than 20 years in the pharmaceutical industry, including c-suite leadership and commercial roles. He has successfully built companies from the ground to an integrated organization. Mr. Moscato served as the President and Chief Operating Officer of Cerecor, Inc. (NASDAQ: CERC) from November 2017 until March 2018, and he served on the Board of Directors of Cerecor Inc. from November 2017 until May 2018. Mr. Moscato co-founded Zylera Pharmaceuticals, LLC and served as the CEO for over six years until it was acquired by Cerecor, Inc. in November 2017. Prior to that, Mr. Moscato served as Chief Operating Officer of Deston Therapeutics LLC. Mr. Moscato initially built his career in commercial roles of increasing responsibility with GlaxoSmithKline, where he was a member of the brand team that led the launch of Wellbutrin XL – one of the fastest launches in pharmaceutical history. Mr. Moscato earned an A.S. degree in Food and Nutrition from SUNY Farmingdale, a B.S. in Healthcare Management from St. Francis College and an M.B.A. from Iona College.
Mr. Moscato and the Company are parties to that certain Employment Agreement dated June 18, 2018 (the “Employment Agreement”), which Employment Agreement sets forth the terms and conditions of Mr. Moscato’s employment by the Company in his capacity as the Chief Executive Officer of the Company, including the compensation that he is to receive in such capacity. The material provisions of the Employment Agreement are described in that certain Current Report on Form 8-K that was filed by the Company with the Securities and Exchange Commission on June 20, 2018 (the “June 8-K”), and a copy of the Employment Agreement is attached as Exhibit 10.1 to the June 8-K.
Mr. Moscato does not have any direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
Item 8.01. Other Matters.
On June 29, 2018, the Company issued a press release regarding the appointment of Uli Hacksell, Ph.D. and Robert C. Moscato, Jr. as members of the Board, and the appointment of Dr. Hacksell as the Chairman of the Board, in each case effective July 1, 2018. The press release is attached hereto as Exhibit 99.1, and is incorporated herein by reference. The Company previously disclosed the appointment of Dr. Hacksell as a director, and as Chairman of the Board, in the June 8-K.
Item 9.01. Financial Statements and Exhibits.
Marina Biotech, Inc. ExhibitEX-99.1 2 ex99-1.htm Marina Biotech Appoints Uli Hacksell,…To view the full exhibit click here
About Marina Biotech, Inc. (OTCMKTS:MRNA)
Marina Biotech, Inc. is a biotechnology company focused on the discovery, development and commercialization of nucleic acid-based therapies to treat orphan diseases. The Company’s pipeline includes CEQ508, a product in clinical development for the treatment of Familial Adenomatous Polyposis (FAP), and preclinical programs for the treatment of type 1 myotonic dystrophy (DM1) and Duchenne muscular dystrophy (DMD). It creates a range of therapeutics targeting coding and non-coding ribonucleic acid (RNA) through several mechanisms of action, such as RNA interference (RNAi), messenger RNA translational inhibition, exon skipping, microRNA (miRNA) replacement, miRNA inhibition and steric blocking in order to modulate gene expression either up or down depending on the specific mechanism of action. It has two liposomal-based delivery platforms: SMARTICLES, and the platform, which utilizes amino-based liposomal delivery technology and incorporates a molecule, Di-Alkylated Amino Acid (DiLA2).
