Diligence memo · auto-generated · as of July 2, 2026
Marina Biotech, Inc.
Marina Biotech, Inc. looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Marina Biotech, Inc. operates in Pharmaceuticals, based in WAKE FOREST.
Sub-sector tags: biotech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Marina Biotech, Inc. has raised $69M in disclosed capital across 11 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $44M on 2010-07-21.
Most recent recorded round closed around 2019-06-28.
Valuation (modeled)modeled
Provath models Marina Biotech, Inc. at approximately $114M (range $11M–$300M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.07× the median modeled value of Series C Pharmaceuticals companies in 2019–2021 (33 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 11 months.
Last raise 7.0 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 6.5× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 86% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 56% of those peers.
Closest niche peers: Verastem, Inc., Sentia Wellness, Inc., Oyster Point Pharma, Inc., Terns Pharmaceuticals, Inc., Theseus Pharmaceuticals, Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.