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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001181431-09-034343.txt : 20090706
<SEC-HEADER>0001181431-09-034343.hdr.sgml : 20090703
<ACCEPTANCE-DATETIME>20090706164315
ACCESSION NUMBER:		0001181431-09-034343
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090629
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20090706
DATE AS OF CHANGE:		20090706

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TARGETED GENETICS CORP /WA/
		CENTRAL INDEX KEY:			0000921114
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				911549568
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23930
		FILM NUMBER:		09931182

	BUSINESS ADDRESS:	
		STREET 1:		1100 OLIVE WAY
		STREET 2:		STE 100
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		2066237612

	MAIL ADDRESS:	
		STREET 1:		1100 OLIVE WAY
		STREET 2:		STE 100
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd247864.htm
<DESCRIPTION>FORM 8-K FOR BOTHELL LEASE TERMINATION
<TEXT>

<html>
	<head>
		<title>
			Prepared By R.R. Donnelley Financial -- Form 8-K
		</title>
	</head>
	<body Bgcolor="white">
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		<div>
			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="4" Color="#000000">
				<b>UNITED STATES </b>
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			<font Face="times New Roman" Size="4" Color="#000000">
				<b>SECURITIES AND EXCHANGE COMMISSION</b>
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			<font Face="times New Roman" Size="2" Color="#000000">
				<b>Washington, D.C. 20549</b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="5" Color="#000000">
				<b>Form 8-K </b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="4" Color="#000000">
				<b>CURRENT REPORT</b>
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			<font Face="times New Roman" Size="4" Color="#000000">
				<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="3" Color="#000000">
				<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;06/29/2009 </b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="5" Color="#000000">
				<b>Targeted Genetics Corporation </b>
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			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Exact name of registrant as specified in its charter)</b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="3" Color="#000000">
				<b>Commission File Number:&nbsp;&nbsp;0-23930</b>
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		</div>
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			<font Size="1">&nbsp;</font>
		</div>
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							<font Face="times New Roman" Size="3" Color="#000000">
								<b>Washington</b>
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						<font Face="times New Roman" Size="1">
							&nbsp;&nbsp;
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						<div Align="center">
							<font Face="times New Roman" Size="3" Color="#000000">
								<b>91-1549568</b>
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						<div Style="margin-left:2%; Text-indent:-2%" Align="center">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>(State or other jurisdiction of</b>
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					</td>
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						<font Face="times New Roman" Size="1">
							&nbsp;&nbsp;
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					</td>
					<td Valign="bottom" Align="center" Width="59%">
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							<font Face="times New Roman" Size="2" Color="#000000">
								<b>(IRS Employer</b>
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						<div Style="margin-left:2%; Text-indent:-2%" Align="center">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>incorporation)</b>
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						<font Face="times New Roman" Size="1">
							&nbsp;&nbsp;
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							<font Face="times New Roman" Size="2" Color="#000000">
								<b>Identification No.)</b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="3" Color="#000000">
				<b>1100 Olive Way, Suite 100, Seattle, Washington 98101</b>
			</font>
		</div>
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			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Address of principal executive offices, including zip code)</b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="3" Color="#000000">
				<b>(206) 623-7612</b>
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			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Registrant&#146;s telephone number, including area code)</b>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="3" Color="#000000">
				<b>Not Applicable </b>
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			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Former name or former address, if changed since last report)</b>
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			<font Size="1">&nbsp;</font>
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	<div Align="left">
		<font Face="times New Roman" Size="2" Color="#000000">
			<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR></b>
		</font>
	</div>


	<div Align="left">
		<font Face="times New Roman" Size="2" Color="#000000">
			<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
			</b>
		</font>
	</div>


	<div>
		<font Size="1">&nbsp;</font>
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	<hr Size="4" Noshade Color="#000000" Align="left">
	<p Style='page-break-before:always'>
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			<font Size="1">&nbsp;</font>
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			<font Face="times New Roman" Size="2" Color="#000000">
				<b>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement</b>
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			<font Size="1">&nbsp;</font>
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		<div  align="left" Style="text-indent:4%">
			<font Face="times New Roman" Size="2" Color="#000000">
				On June 29, 2009, Targeted Genetics Corporation (the "Company") entered into an agreement to terminate the lease for its facility in Bothell, Washington.  The lease termination agreement (the "Agreement") between the Company and Arden Realty Limited Partnership, as successor to CarrAmerica Corporation, terminates the Canyon Park Building Lease between the parties dated as of June 30, 2000, as amended (the "Lease").<p>As of the date of the Agreement, the Lease has been terminated and the parties have been released from their respective obligations under the Lease.  As consideration for the Agreement and the discharge of the Company's obligations under the Lease, including up to approximately $12 million in estimated payment obligations that would have been owed through the remaining term of the Lease, the Company has agreed to pay a termination fee of $500,000 (the "Termination Fee").  The Termination Fee will be paid in installments beginning at the execution of the Agreement and continuing through July 
2010, provided that $100,000 of the Termination Fee will be accelerated in the event that the Company receives a specified product development milestone payment from a collaborator and the remaining unpaid balance of the Termination Fee will be accelerated in the event that the Company receives a specified minimum amount in net proceeds from equity and/or debt financing. <p>The execution of the Agreement enables the Company to record a non-cash entry reversing approximately $7 million of restructuring charge liabilities from its balance sheet.  <p>The Lease covered 76,000 square feet of space and, under its terms, would have expired in September 2015.  The facility was intended for large-scale manufacturing, but the Company never occupied or commenced construction of the facility.
			</font>
		</div>
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			<font Size="1">&nbsp;</font>
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	<p Align="center"><font Size="2">&nbsp;</font>
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			<b>SIGNATURES</b>
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		<font Size="1">&nbsp;</font>
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		<font Face="times New Roman" Size="2" Color="#000000">
			Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
			duly authorized.
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	</div>
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		<font Size="1">&nbsp;</font>
	</div>
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					&nbsp;
				</td>
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					&nbsp;
				</td>
				<td>
					&nbsp;
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					&nbsp;
				</td>
				<td Valign="top" Align="center" Width="3%">
					&nbsp;
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
				<td Valign="top" Width="53%">
					<div Style="margin-left:2%; Text-indent:-2%">
						<font Face="times New Roman" Size="2" Color="#000000">
							Targeted Genetics Corporation
						</font>
					</div>
				</td>
			</tr>
			<tr>
				<td>
					&nbsp;
				</td>
			</tr>
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				<td>
					&nbsp;
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					<div Style="margin-left:2%; Text-indent:-2%">
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							Date: July 06, 2009
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					&nbsp;
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				<td>
					&nbsp;
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					&nbsp;
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						<font Face="times New Roman" Size="2" Color="#000000">
							By:
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					&nbsp;
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				<div Style="margin-left:2%; Text-indent:-2%">
					<font Face="times New Roman" Size="2" Color="#000000">
						/s/&nbsp;&nbsp;&nbsp;&nbsp;David J. Poston</font>
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				<hr Noshade Align="left" Color="#000000">
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				<div Style="margin-left:2%; Text-indent:-2%">
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						David J. Poston</font>
				</div>
			</td>
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				&nbsp;
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				<div>
					<font Face="times New Roman" Size="2" Color="#000000">
						Vice President, Finance and Chief Financial Officer
					</font>
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				&nbsp;
			</td>
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				&nbsp;
			</td>
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	</table>
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</DOCUMENT>
</SEC-DOCUMENT>
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