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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
</FONT><FONT STYLE="font-size: 10pt">WASHINGTON, D.C. 20549 </FONT></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section&nbsp;13 or 15(d) of
the Securities Exchange Act of 1934</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; font-size: 10pt; text-align: center">Date of Report (Date of Earliest Event Reported):</TD>
    <TD STYLE="width: 5%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 44%; font-size: 10pt; text-align: center">October 4, 2012</TD></TR>
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    <TD STYLE="width: 50%; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 24pt; color: black">Marina Biotech, Inc.
    </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; text-align: center; border-bottom: Black 1pt solid">Delaware</TD>
    <TD STYLE="width: 2%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center; border-bottom: Black 1pt solid">000-13789</TD>
    <TD STYLE="width: 2%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center; border-bottom: Black 1pt solid">11-2658569</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;(Commission</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">of incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">3830 Monte Villa Parkway, Bothell,<BR>
Washington</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">98021</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center">&nbsp;(Address of principal executive offices)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;(Zip Code)</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">Registrant&rsquo;s telephone number, including area code:</TD>
    <TD STYLE="width: 40%">425-908-3600</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom; width: 50%">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Former name or former address,
if changed since last report&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 1.01 Entry Into a Material Definitive Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Amendment to Note Purchase
Agreement</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">On October 4, 2012, Marina
Biotech, Inc. (the &ldquo;Company&rdquo;) entered into a Fourth Amendment (the &ldquo;Fourth Amendment&rdquo;) to that certain
Note and Warrant Purchase Agreement (as amended from time to time, the &ldquo;Purchase Agreement&rdquo;) dated as of February 10,
2012 among the Purchasers identified on the signature pages thereto (the &ldquo;Purchasers&rdquo;), the Company, MDRNA Research,
Inc., a wholly-owned subsidiary of the Company (&ldquo;Research&rdquo;), and Cequent Pharmaceuticals, Inc., a wholly-owned subsidiary
of the Company (&ldquo;Cequent&rdquo; and, together with the Company and Research, the &ldquo;Companies&rdquo;). Pursuant to the
Fourth Amendment, the parties amended the Third Amendment to the Purchase Agreement to remove the obligation set forth therein
that the Companies pay to the Purchasers all sums received from the sale of surplus equipment by the Companies (net of expenses).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">As consideration for the Fourth
Amendment, the Company issued to the Purchasers warrants to purchase up to an aggregate of 1,035,715 shares of the common stock
of the Company (the &ldquo;Warrants&rdquo;). The Warrants will have an initial exercise price of $0.28 per share, which is subject
to adjustment (including as a result of subsequent financings completed on or prior to June 30, 2014), will be exercisable for
a period of five years beginning six months and one day following the issuance of the Warrants, and otherwise have substantially
the same terms and conditions as the warrants that were issued to the Purchasers upon the closing of the Purchase Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">The foregoing summary does
not purport to be complete and is qualified in its entirety by reference to the Fourth Amendment, a copy of which is attached as
Exhibit 10.1 to this Current Report on Form 8-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Amendment of Lease</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">On October 5, 2012, the Company
entered into a Lease Termination Agreement (the &ldquo;Termination Agreement&rdquo;), effective as of October 1, 2012, with Ditty
Properties Limited Partnership (&ldquo;Landlord&rdquo;) with respect to that certain Lease Agreement dated March 1, 2006 between
the Company and Landlord (as amended from time to time, the &ldquo;Lease&rdquo;) regarding the Company&rsquo;s facilities located
at 3830 Monte Villa Parkway, Bothell, WA. Pursuant to the Termination Agreement, the Company shall immediately pay to Landlord
$155,000 as rent for the premises for the month of October 2012. Thereafter, the Company&rsquo;s obligation to pay further rent
under the Lease will be satisfied through the Irrevocable Letter of Credit that the Company established to support its obligations
under the Lease (the &ldquo;Letter of Credit&rdquo;). Landlord will draw the amount of each month&rsquo;s rent by drawing on the
Letter of Credit on or about the first day of each month from November 2012 through February 2013, with Landlord drawing the entire
remaining amount available to be drawn on the Letter of Credit when it draws the February 2013 rent. The Company will have no obligation
to replenish the Letter of Credit for amounts drawn by Landlord. The Lease will terminate effective on March 1, 2013; provided
that prior to March 1, 2013 Landlord may terminate the Lease on 10 days&rsquo; prior written notice, in which event Landlord shall
be entitled to immediately draw all remaining amounts under the Termination Agreement on the Letter of Credit.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">As additional consideration
for the Termination Agreement, the Company agreed to issue 1,500,000 shares of its common stock to Landlord contingent upon and
immediately prior to the first to occur of any of the following events:</FONT> <FONT STYLE="font-weight: normal">(i) the closing
by the Company of an equity financing in a transaction or series of related transactions where such financing yields gross proceeds
to the Company of at least $4 million in the aggregate, including amounts converted under any convertible promissory notes; (ii)
a merger of the Company with or into another entity if the combined market capitalization of the merging entities is at least $18
million or, if not, upon the market capitalization of the Company as the surviving entity of a merger being at least $18 million
at any time after the merger; (iii) a sale of all or substantially all of the Company&rsquo;s assets; or (iv) a sale of the Company&rsquo;s
stock after which sale a majority of the outstanding equity of the Company is held by persons or entities who were not shareholders
of the Company prior to the sale.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">The foregoing summary does
not purport to be complete and is qualified in its entirety by reference to the Termination Agreement, a copy of which is attached
as Exhibit 10.2 to this Current Report on Form 8-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3.02 Unregistered Sales of Equity Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Issuance of Warrants to
Noteholders</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">In connection with the Fourth
Amendment described under the heading &ldquo;Amendment to Note Purchase Agreement&rdquo; in Item 1.01 above, the Company issued
the Warrants to the Purchasers. The Company is issuing the Warrants and the shares issuable upon exercise thereof in reliance on
the exemption from registration afforded by Section 4(2) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
and Rule 506 of Regulation D promulgated thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Issuance of Common Stock
to Landlord</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">In connection with the Termination
Agreement described under the heading &ldquo;Amendment of Lease&rdquo; in Item 1.01 above, the Company agreed to issue 1,500,000
shares of its common stock to Landlord. The Company offered these shares in reliance on the exemption from registration afforded
by Section 4(2) of the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9.01 Financial Statements and Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">(d) Exhibits:</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="width: 2%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: windowtext 1pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: normal">10.1</TD>
    <TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal">Fourth Amendment to Note and Warrant Purchase Agreement and Secured Promissory Notes, dated October 4, 2012, among Marina Biotech, Inc., Cequent Pharmaceuticals, Inc., MDRNA Research, Inc., and the purchasers identified on the signature pages thereto.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: normal">10.2</TD>
    <TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal">Lease Termination Agreement, effective as of October 1, 2012, by and between Ditty Properties Limited Partnership and Marina Biotech, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Marina Biotech, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">October 9, 2012</TD>
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; width: 44%">/s/ J. Michael French</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>J. Michael French</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>EXHIBIT INDEX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: windowtext 1pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Fourth Amendment to Note and Warrant Purchase Agreement and Secured Promissory Notes, dated October 4, 2012, among Marina Biotech, Inc., Cequent Pharmaceuticals, Inc., MDRNA Research, Inc., and the purchasers identified on the signature pages thereto.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>&nbsp;</TD>
    <TD>Lease Termination Agreement, effective as of October 1, 2012, by and between Ditty Properties Limited Partnership and Marina Biotech, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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[{"type": "8-K", "sequence": "1", "filename": "v325269_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 24944}]
{"company-data": {"conformed-name": "Marina Biotech, Inc.", "cik": "0000737207", "assigned-sic": "2834", "irs-number": "112658569", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-13789", "film-number": "121138235"}, "business-address": {"street1": "3830 MONTE VILLA PARKWAY", "city": "BOTHELL", "state": "WA", "zip": "98021", "phone": "4259083600"}, "mail-address": {"street1": "3830 MONTE VILLA PARKWAY", "city": "BOTHELL", "state": "WA", "zip": "98021"}, "former-company": [{"former-conformed-name": "MDRNA, Inc.", "date-changed": "20080610"}, {"former-conformed-name": "NASTECH PHARMACEUTICAL CO INC", "date-changed": "19920703"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
October 4, 2012
Marina Biotech, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-13789
11-2658569
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
3830 Monte Villa Parkway, Bothell,
Washington
98021
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
425-908-3600
N/A
Former name or former address,
if changed since last report
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry Into a Material Definitive Agreement.
Amendment to Note Purchase
Agreement
On October 4, 2012, Marina
Biotech, Inc. (the "Company") entered into a Fourth Amendment (the "Fourth Amendment") to that certain
Note and Warrant Purchase Agreement (as amended from time to time, the "Purchase Agreement") dated as of February 10,
2012 among the Purchasers identified on the signature pages thereto (the "Purchasers"), the Company, MDRNA Research,
Inc., a wholly-owned subsidiary of the Company ("Research"), and Cequent Pharmaceuticals, Inc., a wholly-owned subsidiary
of the Company ("Cequent" and, together with the Company and Research, the "Companies"). Pursuant to the
Fourth Amendment, the parties amended the Third Amendment to the Purchase Agreement to remove the obligation set forth therein
that the Companies pay to the Purchasers all sums received from the sale of surplus equipment by the Companies (net of expenses).
As consideration for the Fourth
Amendment, the Company issued to the Purchasers warrants to purchase up to an aggregate of 1,035,715 shares of the common stock
of the Company (the "Warrants"). The Warrants will have an initial exercise price of $0.28 per share, which is subject
to adjustment (including as a result of subsequent financings completed on or prior to June 30, 2014), will be exercisable for
a period of five years beginning six months and one day following the issuance of the Warrants, and otherwise have substantially
the same terms and conditions as the warrants that were issued to the Purchasers upon the closing of the Purchase Agreement.
The foregoing summary does
not purport to be complete and is qualified in its entirety by reference to the Fourth Amendment, a copy of which is attached as
Exhibit 10.1 to this Current Report on Form 8-K.
Amendment of Lease
On October 5, 2012, the Company
entered into a Lease Termination Agreement (the "Termination Agreement"), effective as of October 1, 2012, with Ditty
Properties Limited Partnership ("Landlord") with respect to that certain Lease Agreement dated March 1, 2006 between
the Company and Landlord (as amended from time to time, the "Lease") regarding the Company's facilities located
at 3830 Monte Villa Parkway, Bothell, WA. Pursuant to the Termination Agreement, the Company shall immediately pay to Landlord
$155,000 as rent for the premises for the month of October 2012. Thereafter, the Company's obligation to pay further rent
under the Lease will be satisfied through the Irrevocable Letter of Credit that the Company established to support its obligations
under the Lease (the "Letter of Credit"). Landlord will draw the amount of each month's rent by drawing on the
Letter of Credit on or about the first day of each month from November 2012 through February 2013, with Landlord drawing the entire
remaining amount available to be drawn on the Letter of Credit when it draws the February 2013 rent. The Company will have no obligation
to replenish the Letter of Credit for amounts drawn by Landlord. The Lease will terminate effective on March 1, 2013; provided
that prior to March 1, 2013 Landlord may terminate the Lease on 10 days' prior written notice, in which event Landlord shall
be entitled to immediately draw all remaining amounts under the Termination Agreement on the Letter of Credit.
As additional consideration
for the Termination Agreement, the Company agreed to issue 1,500,000 shares of its common stock to Landlord contingent upon and
immediately prior to the first to occur of any of the following events:
(i) the closing
by the Company of an equity financing in a transaction or series of related transactions where such financing yields gross proceeds
to the Company of at least $4 million in the aggregate, including amounts converted under any convertible promissory notes; (ii)
a merger of the Company with or into another entity if the combined market capitalization of the merging entities is at least $18
million or, if not, upon the market capitalization of the Company as the surviving entity of a merger being at least $18 million
at any time after the merger; (iii) a sale of all or substantially all of the Company's assets; or (iv) a sale of the Company's
stock after which sale a majority of the outstanding equity of the Company is held by persons or entities who were not shareholders
of the Company prior to the sale.
The foregoing summary does
not purport to be complete and is qualified in its entirety by reference to the Termination Agreement, a copy of which is attached
as Exhibit 10.2 to this Current Report on Form 8-K.
Item 3.02 Unregistered Sales of Equity Securities.
Issuance of Warrants to
Noteholders
In connection with the Fourth
Amendment described under the heading "Amendment to Note Purchase Agreement" in Item 1.01 above, the Company issued
the Warrants to the Purchasers. The Company is issuing the Warrants and the shares issuable upon exercise thereof in reliance on
the exemption from registration afforded by Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act"),
and Rule 506 of Regulation D promulgated thereunder.
Issuance of Common Stock
to Landlord
In connection with the Termination
Agreement described under the heading "Amendment of Lease" in Item 1.01 above, the Company agreed to issue 1,500,000
shares of its common stock to Landlord. The Company offered these shares in reliance on the exemption from registration afforded
by Section 4(2) of the Securities Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No.
Description
10.1
Fourth Amendment to Note and Warrant Purchase Agreement and Secured Promissory Notes, dated October 4, 2012, among Marina Biotech, Inc., Cequent Pharmaceuticals, Inc., MDRNA Research, Inc., and the purchasers identified on the signature pages thereto.
10.2
Lease Termination Agreement, effective as of October 1, 2012, by and between Ditty Properties Limited Partnership and Marina Biotech, Inc.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Marina Biotech, Inc.
October 9, 2012
By:
/s/ J. Michael French
Name:
J. Michael French
Title:
Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
Description
10.1
Fourth Amendment to Note and Warrant Purchase Agreement and Secured Promissory Notes, dated October 4, 2012, among Marina Biotech, Inc., Cequent Pharmaceuticals, Inc., MDRNA Research, Inc., and the purchasers identified on the signature pages thereto.
10.2
Lease Termination Agreement, effective as of October 1, 2012, by and between Ditty Properties Limited Partnership and Marina Biotech, Inc.