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Tuesday, February 14, 2012

Marina Biotech, RNAi's 2nd Hit of 2012

Marina Biotech, formerly MDRNA, formerly Nastech, a world leader in RNAi drug development, formerly a world leader in nasal sprays, has announced the closing of their Cambridge facility. The Cambridge facility was formerly known as Cequent.
The closing of the Cambridge site is consistent with our continued efforts to reduce our cash utilization. The individuals affected by this decision were all part of the former Cequent team who then, and certainly over the past several years, were instrumental to the development of CEQ508 and the successful execution of the START-FAP trial. I want to thank them for their efforts and wish them all well in their future endeavors."

Translation: This failure is consistent with our failing management and wasteful spending of other peoples money. We're sacking the Cequent staff as planned. Thanks for CEQ508 and starting the clinical trial. We'll take it from here and fuck it up. So long suckers!

But of course this is RNAi. In an industry that pigeon holes employees, puts them in silos, this is a blow. There are no RNAi jobs out there. RNAi is a passing fad, one that sucked billions out of biotechnology and made a small handful of Cargo Cult leaders very wealthy. There will never be a useful RNAi drug on the market. The RNAi job market can be best described as a falling knife. If you have a notion to enter this field, think again. If you have a chance to get out, do so. The Cequent folk can now move along, but where? It is tough out there. Good luck indeed.

Micheal French and his cult are following the lead of John Maraganore at Alnylam. Sack the scientists to save money for clinical trials. It is the Hail Mary for RNAi. The scientists have all been sent home. The remaining RNAi money will be spent on clinical trials.

M. French, April Fools Day, 2010
We are very excited to bring to MDRNA the unparalleled expertise and commitment of the Cequent team."

M. French, Valentines Day 2012
I want to thank them for their efforts and wish them all well in their future endeavors."

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