Marina Biotech has entered into a binding license agreement with Autotelic Bio for the exclusive development and marketing outside of the United States and Canada of Marina’s IT-103 clinical program.

Under the agreement, Autotelic Bio will obtain a perpetual license to have the right and responsibility to begin clinical development of IT-103 for marketing approval in South Korea and territories outside of United States and Canada.  Through the agreement, Marina will be entitled to the clinical trial data and any enhancements and inventions developed by Autotelic Bio during this process, as well as royalties on sales. Marina retains all rights and territories to IT-103 as non-addictive opioid replacement for extreme pain as well as treatment for familial adenomatous polyposis (FAP).

“We are pleased to execute the agreement for drug development and licensing with Autotelic Bio for IT-103.  This will free up internal resources at Marina while gaining access to regulatory dossier for obtaining marketing approval of IT-103 in the US and Canada,” said Dr. Vuong Trieu, executive chairman of Marina. “The terms of our agreement are a non-dilutive solution for shareholders and accelerate our development timeline.”

IT-103 is a fixed dose combination of celecoxib, a COX-2 selective nonsteroidal anti-inflammatory drug, and Olmesartan, an antihypertension drug.