Sirna Therapeutics Inc – ‘8-K’ for 2/15/05 – EX-99.3

On:  Tuesday, 2/22/05, at 5:23pm ET   ·   For:  2/15/05   ·   Accession #:  1144204-5-5766   ·   File #:  0-27914

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         5     18K 
 2: EX-99.1     Miscellaneous Exhibit                                  5     19K 
 3: EX-99.2     Miscellaneous Exhibit                                  2     10K 
 4: EX-99.3     Miscellaneous Exhibit                                  3     13K 

EX-99.3   —   Miscellaneous Exhibit

EX-99.3
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EXHIBIT 99.3                                                                    

SIRNA THERAPEUTICS GRANTED TWO KEY PATENTS ON ITS RNA INTERFERENCE TECHNOLOGY   

BOULDER, Colo., Feb. 22 -- Sirna Therapeutics, Inc. (Nasdaq: RNAI) announced    
today the notice of grant of two major patents by the United Kingdom (UK) Patent
Office on its fundamental RNA interference (RNAi) technology.                   

The first patent titled "RNA Interference Mediated Inhibition of Gene Expression
Using Chemically Modified Synthetic Short Interfering Nucleic Acid (siNA)" (UK  
Patent No. 2397818) covers the chemical and structural modifications of short   
interfering RNAs (siRNAs) necessary for the creation of viable siRNA-based      
therapeutics. The chemical modifications covered in the patent are essential for
the stability, potency and duration of action of siRNA therapeutics as          
unmodified siRNAs degrade rapidly in vivo. It is the first patent granted in a  
major country that broadly covers chemically stabilized siRNAs and is important 
as it will exclude anyone in the UK from developing, manufacturing and/or       
commercializing therapeutically useful chemically modified siRNAs.              

The second patent titled "RNA Interference Mediated Inhibition of Vascular      
Endothelial Growth Factor and Vascular Endothelial Growth Factor Receptor Gene  
Expression Using Short Interfering RNA" (UK Patent No. 2396864) covers          
chemically modified siRNAs targeting a receptor of VEGF. The claims of this     
patent are not limited to any specific siRNA sequence but broadly cover any     
siRNA used against the entire targeted gene. It is the first in a series of over
100 patents filed worldwide by Sirna for the broad coverage of siRNAs targeting 
disease causing genes and viruses. This is the first patent issued covering the 
broad claims for an siRNA used against a drug target.                           

The issuance of these two patents clearly illustrates the broad and enabling    
intellectual property estate covering multiple aspects of siRNA technology owned
or controlled by Sirna. As stated by Howard W. Robin, Sirna President & CEO, "We
view the issuance of these patents as validation of the Sirna Therapeutics      
intellectual property approach and demonstration of Sirna's scientific          
excellence and achievements. These patents give us confidence that our pending  
patents with similar scope and breadth will issue in the U.S and other major    
countries. We believe that Sirna has a dominant position in RNA chemistry and   
the leading intellectual property estate covering siRNAs."                      

SIRNA'S ENABLING TARGET PATENTS                                                 

Sirna has filed enabling patents for over 100 important mammalian disease       
targets including: alpha-synuclein (Parkinson's disease), HBV (hepatitis B), HCV
(hepatitis C), HD (Huntington's disease), HIV (human immunodeficiency virus), HR
(hairless gene), IL-4, IL-13, IL-4 Receptors, IL-13 Receptors (asthma,          
respiratory diseases), NOGO & NOGO Receptors (spinal cord injury), PTP-1B       
(diabetes, obesity) and VEGF (angiogenesis, AMD, diabetic retinopathy, cancer,  
kidney disease).                                                                

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THE PATENT PORTFOLIO                                                            

Sirna has both in-licensed patents when appropriate with third parties, such as 
academic institutions, and filed patents on technology discovered inside the    
Company. Together, the company has 40 issued patents (including the two         
announced today) in the US and abroad and 250 pending patents. The first key    
in-licensed patents is the Tuschl Patent from the University of Massachusetts   
which covers the seminal RNA interference technology covering siRNA for uses    
relating to human and veterinary therapeutic, prophylactic, diagnostic and      
healthcare applications. The second key in-licensed patent is from the          
University of Iowa Research Foundation under an exclusive license agreement for 
the intellectual property relating to RNAi technology covering siRNAs for       
targeting neurological disease indications, including Huntington's Disease and  
Alzheimer's Disease. The third key in-licensed patent is from Columbia          
University under an exclusive license agreement for the intellectual property   
relating to RNAi technology covering siRNAs against genes involved in promotion 
and inhibition of hair growth, such as the Hairless gene. The fourth important  
in-licensed patent is from the Carnegie Institute of Washington and UMASS (the  
"Carnegie Patent"). The Carnegie Patent is based on the pioneering work of Drs. 
Andrew Fire and Craig Mello in C. elegans governing genetic inhibition of genes 
by double-stranded RNA via RNAi.                                                

Sirna's internal scientific work has resulted in 40 issued patents (including   
today's announcement) and over 250 pending patents. These patents include: 10   
pending patents for siRNAs & micro-RNAs, one granted and 10 pending patents for 
"No-Ribo" siNAs, 5 pending patents for Multifunctional siRNAs, 23 issued and    
over 70 filed patents for Oligonucleotide Chemistry and Delivery, 15 issued and 
25 filed patents for Oligonucleotide Manufacturing, and one granted and over 100
patents pending for fully enabled siRNAs against specific gene targets.         

Taken together Sirna believes it has established the leading intellectual       
property portfolio in the field of RNAi.                                        

ABOUT SIRNA THERAPEUTICS                                                        

Sirna Therapeutics is a clinical-stage biotechnology company developing         
RNAi-based therapies for serious diseases and conditions, including age- related
macular degeneration (AMD), Huntington's Disease, diabetes, asthma, oncology,   
hepatitis C and hair removal. Sirna has initiated a Phase 1 clinical trial for  
its most advanced compound, Sirna-027, a chemically modified siRNA targeting the
clinically validated vascular endothelial growth factor pathway to treat AMD.   
The Company has strategic partnerships with Eli Lilly, Targeted Genetics and    
Archemix and a leading intellectual property portfolio in RNAi. More information
on Sirna Therapeutics is available on the Company's web site at                 
http://www.sirna.com/ .                                                         

Statements in this press release which are not strictly historical are          
"forward-looking" statements which should be considered as subject to many risks
and uncertainties. For example, there is a very significant risk for any given  
patent application that it will not become an issued patent, or that for any    
issued patent, it could be subject to challenge or may not be enforceable.      
Furthermore, Sirna's ability to develop products and to operate as a going      
concern are contingent upon having readily available cash to fund its operating 
programs and are subject to the escalating expenses and risks associated with   
the initiation of clinical trials and their potential outcomes. Other risks and 
uncertainties include Sirna's early stage of development and short operating    
history, whether Sirna can achieve and maintain profitability, whether Sirna can
obtain and protect patents, the risk of third-party patent infringement claims, 
whether Sirna can engage collaborators and obtain regulatory approval for       
products, Sirna's concentration of stock ownership, and availability of         
materials for product manufacturing. These and additional risk factors are      
identified in Sirna's Securities and Exchange Commission filings, including the 
Forms 10-K and 10-Q and in other SEC filings. Sirna undertakes no obligation to 
revise or update any forward-looking statements in order to reflect events or   
circumstances that may arise after the date of this release.                    

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CONTACT: Martin E. Schmieg, Sr. Vice President & CFO of Sirna Therapeutics,     
Inc., +1.303.449.6500 or (media) Gregory Tiberend, The Ruth Group,              
+1.646.536.7005                                                                 

SOURCE  Sirna Therapeutics, Inc.                                                
-0-  02/22/2005                                                                 
/CONTACT:  Martin E. Schmieg, Sr. Vice President & CFO of Sirna                 
Therapeutics, Inc., +1-303-449-6500 or (media) Gregory Tiberend of The Ruth     
Group, +1-646-536-7005, for Sirna Therapeutics, Inc.  /                         
/Web Site:  http://www.sirna.com /                                              
(RNAI)