MDRNA, Inc. Raises $10.5 Million in Registered Direct Offering

BOTHELL, WA, Jun 10 (MARKET WIRE) --
MDRNA, Inc. (NASDAQ: MRNA) announced today that it entered into
definitive agreements on June 9, 2009 with existing investors to raise
gross proceeds of $10.5 million though a registered direct offering.
Under terms of the agreements, the Company will sell 5.25 million shares
of its common stock at $2.00 per share. As part of the transaction, the
investors also will receive warrants, with a five and a half year term,
to purchase 5.25 million shares of common stock at an exercise price of
$2.38 per share. The warrants will be exercisable after a six-month
period.

The transaction is expected to close on Friday, June 12, 2009, subject to
customary closing conditions. The Company plans to use the proceeds of
this transaction for working capital.

J. Michael French, President and CEO, stated, "Our ability to complete
this transaction is a testament to the strength of our core RNAi
technologies and our outstanding scientific team. This financing offers
us the opportunity to continue to rebuild shareholder value by giving us
additional capital to move our technology forward in a significant manner
while continuing to execute our partnering strategy."

Canaccord Adams Inc. served as sole placement agent for the offering.

A shelf registration statement relating to the common stock and warrants
to be issued in the offering has been filed with the Securities and
Exchange Commission and has become effective. A prospectus supplement
related to the offering will be filed with the Securities and Exchange
Commission. Copies of the prospectus supplement and accompanying base
prospectus may be obtained at the SEC's website at http://www.sec.gov, or
via written request to MDRNA, Inc., 3830 Monte Villa Parkway, Bothell,
WA, 98021. Attention: Investor Relations.

About MDRNA, Inc.

MDRNA is a biotechnology company focused on the development and
commercialization of therapeutic products based on RNA interference
(RNAi). Our goal is to improve human health by combining novel RNAi-based
compounds and proprietary peptide- and liposomal-based drug delivery
technologies to provide superior therapeutic options. Our
multi-disciplinary portfolio of capabilities includes molecular biology,
cellular biology, formulation expertise, peptide and alkylated amino acid
chemistry, pharmacology, toxicology and bioinformatics. We are applying
this expertise to a single, integrated drug discovery platform that will
be the engine for our clinical pipeline and a versatile platform for
establishing broad therapeutic partnerships. We are also building on new
technologies, such as UsiRNAs that incorporate the non-nucleotide moiety
Unlocked Nucleobase Analog (UNA) within the siRNA molecule, that we
expect to lead to safer and more effective RNAi-based therapeutics. By
combining broad expertise in siRNA science with proven delivery platforms
and a strong and growing IP position, MDRNA is well positioned as a
leading RNAi therapeutics company and value-added collaborator for our
research partners. Additional information about MDRNA, Inc. is available
at http://www.mdrnainc.com.

Forward-Looking Statements

Statements made in this news release may be forward-looking statements
within the meaning of Federal Securities laws that are subject to certain
risks and uncertainties and involve factors that may cause actual results
to differ materially from those projected or suggested. Factors that could
cause actual results to differ materially from those in forward-looking
statements include, but are not limited to: (i) the ability of MDRNA to
obtain additional funding; (ii) the ability of MDRNA to attract and/or
maintain manufacturing, research, development and commercialization
partners; (iii) the ability of MDRNA and/or a partner to successfully
complete product research and development, including preclinical and
clinical studies and commercialization; (iv) the ability of MDRNA and/or a
partner to obtain required governmental approvals; and (v) the ability of
MDRNA and/or a partner to develop and commercialize products that can
compete favorably with those of competitors. Additional factors that could
cause actual results to differ materially from those projected or
suggested in any forward-looking statements are contained in MDRNA's most
recent periodic reports on Form 10-K and Form 10-Q that are filed with the
Securities and Exchange Commission. MDRNA assumes no obligation to update
and supplement forward-looking statements because of subsequent events.

Contacts:

Matthew D. Haines
Senior Director, Investor Relations and Corporate Communications
(212) 209-3874
Email Contact

McKinney|Chicago (Media)
Alan Zachary
(312) 944-6784 x 316 or
(708) 707-6834
Email Contact

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