Silence Therapeutics: Partner Quark Signs Option Pact With Novartis
August 19 2010 - 12:13PM
Dow Jones News
Silence Therapeutics PLC (SLN.LN), an international RNAi
therapeutics company, said Thursday that its partner, Quark
Pharmaceuticals, Inc, has granted an option to Novartis to obtain
an exclusive worldwide license to develop and commercialize
QPI-1002, a p53 temporary inhibitor siRNA drug which incorporates
Silence's AtuRNAi technology.
MAIN FACTS:
-Quark is currently conducting a Phase II clinical trial of
QPI-1002 for the prevention of acute kidney injury in patients
undergoing cardiac surgery and for delayed graft function in kidney
transplant patients.
-Under the terms of Silence's agreement with Quark, Silence
anticipates that its future milestone payments from this program
could potentially exceed $65 million.
-Shares at 1540 GMT up 0.50 pence, or 9.01%, at GBP6.05 pence,
valuing the company at GBP16.93 million.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275;
razak.baba@dowjones.com
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