Tekmira Receives $1.5 Million Milestone Payment from Monsanto

Tekmira Pharmaceuticals Corporation, a leading developer of RNA interference (RNAi) therapeutics, announced that it has received a $1.5 million milestone payment from Monsanto following completion of specified program developments. 

 

The development milestone is part of the research program under the Option Agreement Tekmira signed with the agriculture company, which we announced on January 13, 2014. The Option Agreement relates to Tekmira's proprietary delivery technology and intellectual property for use in agricultural applications. The potential value of the transaction could reach up to $86.2 million, following the successful completion of all program milestones.