RESEARCH TRIANGLE PARK, NC: Marina Biotech, Inc. (OTCQB: MRNA), a commercial stage pharmaceutical company focused on the development and commercialization of innovative therapeutics for hypertension, arthritis, pain and oncology, today announced the appointment of Eric Teague as Chief Financial Officer of the Company.
"Marina is launching PRESTALIA and actively exploring several business development opportunities, said Robert C. Moscato Jr., Chief Executive Officer of Marina Biotech. Erics global experience in financial operations, mergers and acquisitions, and strategy as a CFO, entrepreneur, and consultant are an ideal fit for the company as we work to extend our momentum.
Eric has a proven track record as a teammate which is a key element of our culture. Hes someone who has shown he can work with teammates during periods of rapid growth and in high-stress situations. Magical things happen when a team is in synch. You rapidly create value, enhance creativity and promote entrepreneurship. I am very excited for Eric to join our team.
As CFO, Mr. Teague will report directly to Mr. Moscato and will oversee Marina Biotechs finance, accounting, financial planning & analysis, investor relations, tax, and treasury areas of the business.
Mr. Teague brings more than 20 years of finance and capital markets experience, an extensive background in financial planning and operations, management, and strategy, and an entrepreneurial and deal-making background. He most recently served as Chief Financial Officer and Board Member for Arca Technologies, a private equity backed international manufacturer and distributor of cash handling machines. Prior to joining Arca, Mr. Teague was Chief Business Development Officer with Pavlov Media and Founder and Chief Executive Officer of Wavelength. Among other finance positions, Eric spent eight years with PricewaterhouseCoopers in Europe and New York City advising Big Pharma and other public companies on Securities and Exchange Commission matters, transaction structuring, and cross-border M&A.
Marina Biotech is at an exciting stage of scaling up its commercial platform and strategic differentiation, and I am honored to join the team at this pivotal moment, said Mr. Teague. This is a thrilling time to be in the pharmaceutical business. We have a unique opportunity to improve patients lives and change the way healthcare is delivered by leveraging technology and proven drug therapies to disrupt traditional thinking.
Mr. Teague holds a Master of Business Administration from the University of North Carolina at Chapel Hill and a Bachelor of Arts in Accounting from North Carolina State University.
In connection with the appointment of Mr. Teague as Chief Financial Officer, Amit Shah, the Chief Financial Officer of the Company since October 2017, resigned from such position to pursue other opportunities.
We would like to thank Mr. Shah for his leadership and great work preparing the company for this stage of our development, Mr. Moscato said.