As part of an on-going effort to conserve resources and focus on collaboration opportunities, Philip C. Ranker and Richard T. Ho, M.D., Ph.D. have resigned from their respective positions as interim chief financial officer and executive vice president, R&D at Marina Biotech. Mr. Ranker will join the board of directors and Dr. Ho will become the chair of the scientific advisory board. The company’s finances will transition to an outside service provider.
"I want to thank both Phil and Richard for their dedication over the past two years and, most importantly, for the personal sacrifices they've endured to keep Marina Biotech moving forward," said J. Michael French, president and chief executive officer. "Their decision to resign as employees and move into advisory roles is a tribute to their commitment to the company and expectation that Marina Biotech will bring novel therapeutics to underserved patient populations. Phil will support us as we transition the financial operations to an outside firm and initiate the necessary steps to complete our audit and regain regulatory compliance. We look forward to his continued input as a Board member. Richard will lead our SAB which I believe will take on a greater role in our future R&D collaborations. We continue to do all we can to move the company forward and believe the coming year will be a transformational year for Marina Biotech. We look forward to providing a corporate update at Biotech Showcase in San Francisco on January 15, 2014."