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Tekmira Provides Corporate Update And Announces Year-End Audited 2012 Results

VANCOUVER, British Columbia, March 27, 2013 (GLOBE NEWSWIRE) -- Tekmira Pharmaceuticals Corporation (Nasdaq:TKMR) (TSX:TKM), a leading developer of RNA interference (RNAi) therapeutics, today announced its 2012 audited financial results and provided a corporate update.

"Over the last year, Tekmira has contributed to significant advancements in the field of RNAi. Our LNP technology has enabled promising clinical data sets in a number of different clinical indications. Looking ahead, in order to bring innovative new therapeutics to patients and maximize value for our shareholders, we must continue to focus on developing our proprietary pipeline of RNAi products in a range of therapeutically important, commercially attractive markets," said Dr. Mark J. Murray, Tekmira's President and CEO.

Results from our Phase I clinical trial with TKM-PLK1, our lead cancer program, will be presented at the upcoming American Association for Cancer Research meeting in April, and we intend to initiate a TKM-PLK1 Phase II clinical trial later this year. In collaboration with the U.S. Department of Defense's TMT program, we will continue to advance our TKM-Ebola product. And, we expect to nominate and move forward with our next target for product development later this year.

Looking at upcoming catalysts from our partners, Alnylam has guided that it expects to complete its ALN-TTR02 Phase II trial and report results in mid-2013, and expects to start a Phase III trial for ALN-TTR02 by the end of 2013. In 2013, we expect to receive $10 million in milestone payments from Alnylam. In addition, we are entitled to future royalty payments from Talon based on sales of Marqibo, which was approved by the FDA last year. With our LNP technology platform, which is considered the 'gold-standard' in RNAi delivery, we continue to collaborate with a number of pharmaceutical, biotechnology and agricultural companies, and we are actively working to grow the number of companies using our technology," added Dr. Murray.

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