Tekmira Outlines Key 2013 Product Development and Corporate Milestones

Tekmira Outlines Key 2013 Product Development and Corporate Milestones

Company Presentation to be Webcast at BIO CEO Conference at 10:30 am ET

VANCOUVER, British Columbia, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Tekmira
Pharmaceuticals Corporation (Nasdaq:TKMR) (TSX:TKM), a leading developer of
RNA interference (RNAi) therapeutics, announced today its key product
development, corporate, and partner milestones for 2013.

"Tekmira has been at the forefront of the RNAi technology revolution over the
last decade, and 2012 proved to be a pivotal year for the RNAi field where
Tekmira's LNP technology enabled multiple promising sets of human clinical
data.It is Tekmira's deep knowledge and our ability to continuously innovate
and improve our LNP technology platform which is driving the RNAi field
forward," said Dr. Mark J. Murray, Tekmira's President and CEO.

"Building upon this positive momentum, in the year ahead, we will expand and
advance Tekmira's pipeline of proprietary products, in order to maximize value
for our shareholders. We intend to present results from our Phase I clinical
trial with TKM-PLK1, our lead cancer program, and we anticipate it will enter
Phase II clinical trials later this year. We will continue to advance our
TKM-Ebola product in collaboration with the U.S. Department of Defense's TMT
program. And, we expect to nominate and move forward with our next target for
development.

Looking at our partners, we anticipate results from Alnylam's ALN-TTR02 Phase
II trial in mid-2013 and the initiation of a Phase III trial by the end of
2013 and we expect to receive $10 million in milestone payments from Alnylam
in 2013. In addition, we are entitled to future royalty payments based on
sales of Marqibo, which was recently approved by the FDA. With clarity around
the intellectual property protecting our LNP technology platform, we are
well-positioned to pursue product, platform and strategic partnering deals,"
added Dr. Murray.

2013 Product Development, Corporate and Partner Milestones

TKM-PLK1, Tekmira's Lead Oncology Therapeutic

In 2012, Tekmira released interim results from a Phase I study with TKM-PLK1,
which employs a unique lipid nanoparticle (LNP) developed for oncology
applications, showing promising drug activity and demonstrating that TKM-PLK1
was generally well tolerated. Upcoming milestones in the TKM-PLK1 program
include:

  *the reporting of Phase I data from TKM-PLK1 in an oral presentation at the
    annual meeting of the American Association of Cancer Research to be held
    in April 2013; and,
    
  *the advancement of TKM-PLK1 into a Phase II clinical trial later this
    year.

TKM-Ebola, Tekmira's Collaboration with the U.S. Department of Defense

Tekmira is developing an Ebola antiviral product called TKM-Ebola under a $140
million contract with the U.S. Department of Defense's Transformational
Medical Technologies (TMT) Program. Tekmira has submitted a modification
request to the existing contract in order to integrate recent advancements in
LNP formulation technology that are 10 times more potent than previous
formulations and more potent than all other LNP formulations currently being
evaluated in clinical trials. Tekmira anticipates:

  *the completion of the proposed LNP formulation work and a corresponding
    submission to the FDA in the second half of 2013 in order to initiate a
    Phase I clinical trial.

Expansion of Tekmira's Product Pipeline

Tekmira has a number of preclinical candidates in its pipeline addressing a
wide range of therapeutic needs. The research team at Tekmira will continue to
generate data to support the advancement of the most promising of these
targets. It is anticipated that Tekmira will:

  *select the next therapeutic product candidate for clinical development
    from Tekmira's preclinical pipeline in 2013.

Partner Milestones

Tekmira has granted a license to Alnylam Pharmaceuticals, Inc. to use
Tekmira's LNP technology to advance RNAi therapeutic products, and Tekmira
will receive milestone and royalty payments as these LNP-enabled products are
developed and commercialized. Milestone events expected this year include:

  *results from the Phase II trial with ALN-TTR02 – an RNAi therapeutic for
    the treatment of ATTR that is enabled by Tekmira's LNP technology – which
    are anticipated to be released by Alnylam by mid-2013;
    
  *a $5 million milestone payment from Alnylam expected to occur in 2013 when
    ALN-TTR02 enters a pivotal or Phase III clinical trial; and,
    
  *a $5 million milestone payment from Alnylam expected to occur in 2013
    related to the initiation of clinical trials in China for ALN-VSP – a
    systemically delivered RNAi therapeutic for the treatment of advanced
    solid tumors with liver involvement that utilizes Tekmira's LNP
    technology.
    
  *continued advancement of ALN-PCS, a systemically delivered RNAi
    therapeutic for the treatment of hypercholesterolemia, which is enabled by
    Tekmira's LNP technology. Tekmira is eligible to receive royalties on
    commercial sales of ALN-PCS.

Tekmira has a number of legacy license agreements that provide potential
milestone and royalty payments. Marqibo, which is a liposomal formulation of
the chemotherapy drug vincristine, was licensed from Tekmira to Talon
Therapeutics, Inc. in 2006. In 2012, Tekmira received a US$1 million milestone
payment based on the FDA approval of Marqibo. This year's milestone is the
commencement of:

  *anticipated royalty revenues from Talon based on the commercial sales of
    Marqibo.

Financial guidance

Tekmira believes that current funds on hand, plus expected income, including
payments received from Alnylam in Q4 2012 and other funds from collaborative
partners and the U.S. Government, will be sufficient to continue product
development into 2015.

Webcast

Tekmira will provide a corporate overview including its 2013 milestones at the
BIO CEO & Investor Conference at 10:30 am ET today. The webcast presentation
is available at www.tekmirapharm.com.

About RNAi and Tekmira's LNP

RNAi therapeutics have the potential to treat a broad number of human diseases
by "silencing" disease causing genes. The discoverers of RNAi, a gene
silencing mechanism used by all cells, were awarded the 2006 Nobel Prize for
Physiology or Medicine. RNAi therapeutics, such as "siRNAs," require delivery
technology to be effective systemically. Tekmira believes its LNP technology
represents the most widely adopted delivery technology for the systemic
delivery of RNAi therapeutics. Tekmira's LNP platform is being utilized in
multiple clinical trials by both Tekmira and its partners. Tekmira's LNP
technology (formerly referred to as stable nucleic acid-lipid particles or
SNALP) encapsulates siRNAs with high efficiency in uniform lipid nanoparticles
that are effective in delivering RNAi therapeutics to disease sites in
numerous preclinical models. Tekmira's LNP formulations are manufactured by a
proprietary method which is robust, scalable and highly reproducible, and
LNP-based products have been reviewed by multiple FDA divisions for use in
clinical trials. LNP formulations comprise several lipid components that can
be adjusted to suit the specific application.

About Alnylam RNAi Technology

Tekmira has licenses to Alnylam RNAi intellectual property for certain siRNA
programs.

About Tekmira

Tekmira Pharmaceuticals Corporation is a biopharmaceutical company focused on
advancing novel RNAi therapeutics and providing its leading lipid nanoparticle
delivery technology to pharmaceutical partners. Tekmira has been working in
the field of nucleic acid delivery for over a decade and has broad
intellectual property covering LNPs. Further information about Tekmira can be
found at www.tekmirapharm.com. Tekmira is based in Vancouver, B.C.

The Tekmira Pharmaceuticals logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8319

Forward-Looking Statements and Information

This news release contains "forward-looking statements" or "forward-looking
information" within the meaning of applicable securities laws (collectively,
"forward-looking statements"). Forward-looking statements are generally
identifiable by use of the words "believes," "may," "plans," "will,"
"anticipates," "intends," "budgets," "could," "estimates," "expects,"
"forecasts," "projects" and similar expressions, and the negative of such
expressions. Forward-looking statements in this news release include
statements about Tekmira's key product development, corporate and partner
milestones for 2013; expanding and advancing Tekmira's pipeline of proprietary
products over the next year; maximization of shareholder value; the intention
to present results from Tekmira's Phase I clinical trial with TKM-PLK1 in an
oral presentation in April 2013; the advancement of TKM-PLK1 into a Phase II
clinical trials later this year; continued advancement of the TKM-Ebola
program in collaboration with the U.S. Department of Defense's TMT program,
including LNP formulation improvements and a submission to the FDA in the
second half of 2013; the nomination of Tekmira's next target for clinical
development; anticipated results from Alnylam's ALN-TTR02 for the treatment of
ATTR Phase II trial in mid-2013 with the initiation of a Phase III trial by
the end of 2013; the receipt of $10 million in milestone payments from Alnylam
in 2013, encompassing a $5 million payment from Alnylam when ALN-TTR02 enters
a pivotal or Phase III clinical trial, expected to occur in 2013 and a $5
million payment from Alnylam related to the initiation of clinical trials for
ALN-VSP in China, which is expected to occur in 2013; continued advancement of
ALN-PCS and future royalty payments; future royalty payments from Talon
Therapeutics, Inc. based on sales of Marqibo; statements about current funds
on hand, plus expected income, being sufficient to continue product
development into 2015; and Tekmira's strategy, future operations, clinical
trials, prospects and the plans of management; RNAi (ribonucleic acid
interference) product development programs; and the effects of Tekmira's
products on the treatment of cancer and infectious disease.

With respect to the forward-looking statements contained in this news release,
Tekmira has made numerous assumptions regarding, among other things: LNP's
status as a leading RNAi delivery technology; the effectiveness of Tekmira's
products as a treatment for cancer or infectious disease; the developmental
milestones and approvals required to trigger funding for TKM-Ebola from the
TMT program; results in preclinical models are indicative of the potential
effect in humans; Tekmira's research and development capabilities and
resources; FDA approval with respect to commencing clinical trials; the timing
and obtaining of regulatory approvals for Tekmira's products; the timing and
results of clinical data releases and use of LNP technology by Tekmira's
development partners and licensees; the time required to complete research and
product development activities; the timing and quantum of payments to be
received under contracts with Tekmira's partners including Alnylam, Talon, the
DoD, and others; Tekmira's financial position and its ability to execute on
its business strategy; and Tekmira's ability to protect its intellectual
property rights and not to infringe on the intellectual property rights of
others. While Tekmira considers these assumptions to be reasonable, these
assumptions are inherently subject to significant business, economic,
competitive, market and social uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause
Tekmira's actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking statements contained herein. Known risk factors
include, among others: results for Tekmira's Phase I clinical trial with
TKM-PLK1 may not be presented as anticipated, or at all; TKM-PLK1 may not
enter into Phase II clinical trials as anticipated, or at all; initiation of a
Phase I TKM-Ebola clinical trial with a more potent LNP formulation may not
occur as anticipated, or at all; Tekmira may not select the next candidate for
development as anticipated, or at all; results from the Phase II trial with
ALN-TTR02 for the treatment of ATTR may not be released by Alnylam as
anticipated, or at all; Tekmira may never receive milestones or royalty
payments from Alnylam; Tekmira may not receive any additional non-exclusive
licenses; Tekmira's ability to obtain and protect intellectual property
rights, and operate without infringing on the intellectual property rights of
others; Tekmira's research and development capabilities and resources will not
meet current or expected demand; Tekmira's development partners and licensees
conducting clinical trial, development programs and joint venture strategic
alliances will not result in expected results on a timely basis, or at all;
anticipated payments under contracts with Tekmira's collaborative partners may
not be received by Tekmira on a timely basis, or at all, or in the quantum
expected by Tekmira; Tekmira's products may not prove to be effective in the
treatment of cancer andinfectious disease; the possibility that other
organizations have made advancements in RNAi delivery technology that Tekmira
is not aware of; the FDA will not approve the commencement of Tekmira's
planned clinical trials or approve the use of Tekmira's products and
generally, difficulties or delays in the progress, timing and results of
clinical trials; the FDA may determine that the design and planned analysis of
Tekmira's clinical trials do not adequately address the trial objectives in
support of Tekmira's regulatory submissions; future operating results are
uncertain and likely to fluctuate; competition from other pharmaceutical or
biotechnology companies; Tekmira's ability to raise additional financing
required to fund further research and development, clinical studies, and
obtain regulatory approvals, on commercially acceptable terms or at all;
economic and capital market conditions; a pivotal trial for ALN-TTR02 may not
start as currently anticipated, or at all; clinical trials for ALN-VSP may not
commence as anticipated, or at all; ALN-PCS may not advance as anticipated, or
at all; anticipated payments under contracts with Tekmira's collaborative
partners including the U.S. Government, Alnylam, and Talon will not be
received by Tekmira on a timely basis, or at all, or in the quantum expected
by Tekmira; the U.S. Government may reduce or cancel certain defense spending,
including Tekmira's contract to develop TKM-Ebola; the release of data from
the TKM-Ebola and TKM-PLK1 Phase I human clinical trials may not occur in the
expected timeframe, or at all; the DoD may not accept the modification request
to the existing TKM-Ebola to integrate recent advancements in LNP formulation
and manufacturing technology; we may not complete the work necessary for the
submission of the new LNP formulation to the FDA in the anticipate timeframe,
or at all; pre-clinical and clinical trials may be more costly or take longer
to complete than anticipated; pre-clinical or clinical trials may not generate
results that warrant future development of the tested drug candidate; Tekmira
may become subject to product liability or other legal claims for which
Tekmira has made no accrual in its financial statements; Tekmira's cash runway
may not extend as far as anticipated, and may be substantially less than
required to continue current operations; and the possibility that Tekmira has
not sufficiently budgeted for expenditures necessary to carry out planned
activities.

A more complete discussion of the risks and uncertainties facing Tekmira
appears in Tekmira's annual report on Form 20-F for the year ended December
31, 2011 (Annual Report), which is available at www.sedar.com or at
www.sec.gov/edgar.shtml. All forward-looking statements herein are qualified
in their entirety by this cautionary statement, and Tekmira disclaims any
obligation to revise or update any such forward-looking statements or to
publicly announce the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or developments,
except as required by law.

Marqibo is a U.S. registered trademark of Talon Therapeutics, Inc.

CONTACT: Investors
         Jodi Regts
         Director, Investor Relations
         Phone: 604-419-3234
         Email: jregts@tekmirapharm.com
        
         Media
         David Ryan
         Longview Communications Inc.
         Phone: 416-649-8007
         Email: dryan@longviewcomms.ca

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