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Business

Marina buys Turing program

by Lisa M. Jarvis
May 9, 2016 | A version of this story appeared in Volume 94, Issue 19
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Marina Biotech is exchanging 53 million of its shares, valued at $13 million dollars, for Turing Pharmaceuticals’ intranasal ketamine drug, currently in Phase III studies to treat suicidal thoughts in people with posttraumatic stress disorder. Intranasal ketamine was one of three assets acquired by Turing’s founder, Martin Shkreli, from his previous company, Retrophin. Shkreli has since been indicted for misallocating funds while at Retrophin and at a hedge fund.

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