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TheStreet Open House

Tekmira Provides Periodic Update To Shareholders Regarding Litigation

Stock quotes in this article: TKMR

VANCOUVER, British Columbia, Sept. 26, 2012 (GLOBE NEWSWIRE) -- Tekmira Pharmaceuticals Corporation (Nasdaq:TKMR) (TSX:TKM), a leading developer of RNA interference (RNAi) therapeutics, disclosed that its motions to dismiss for lack of standing and to disqualify Alnylam's counsel have been denied in the patent infringement lawsuit filed on January 17, 2012 by Alnylam Pharmaceuticals, Inc. and Isis Pharmaceuticals, Inc. in the U.S. District Court of Massachusetts, clearing the way for Tekmira to provide the customary answer to this complaint filed in January 2012.

Alnylam added to the infringement action yesterday by suing Tekmira in Canada for infringing CA Patent No. 2,359,180.

"These patent infringement lawsuits are absolutely without merit. Alnylam is fully aware of the limitations of these patents. We believe that these suits are Alnylam's response to the ongoing trade secret litigation initiated by Tekmira against Alnylam Pharmaceuticals, Inc. and AlCana Technologies, Inc. and are simply intended to confuse the market and have no bearing on the trade secret litigation," said Dr. Mark J. Murray, Tekmira's President and CEO.

"As the next step in these patent infringement proceedings, we will now file the procedurally appropriate answer to both complaints. It is important for our shareholders to understand that we are confident that Tekmira has access to the intellectual property we require for the development of our own products and for collaborations with our pharmaceutical partners," added Dr. Murray.

Documents related to ongoing litigation can be found on the company's website at www.tekmirapharm.com .

About RNAi and Tekmira's LNP Technology

RNAi therapeutics have the potential to treat a broad number of human diseases by "silencing" disease causing genes. The discoverers of RNAi, a gene silencing mechanism used by all cells, were awarded the 2006 Nobel Prize for Physiology or Medicine. RNAi therapeutics, such as "siRNAs," require delivery technology to be effective systemically. Tekmira believes its LNP technology represents the most widely adopted delivery technology for the systemic delivery of RNAi therapeutics. Tekmira's LNP platform is being utilized in multiple clinical trials by both Tekmira and its partners. Tekmira's LNP technology (formerly referred to as stable nucleic acid-lipid particles or SNALP) encapsulates siRNAs with high efficiency in uniform lipid nanoparticles that are effective in delivering RNAi therapeutics to disease sites in numerous preclinical models. Tekmira's LNP formulations are manufactured by a proprietary method which is robust, scalable and highly reproducible, and LNP-based products have been reviewed by multiple FDA divisions for use in clinical trials. LNP formulations comprise several lipid components that can be adjusted to suit the specific application.

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