A world leader in the development of RNA interface-based therapies, Quark Pharmaceuticals Inc yesterday entered into a deal with Swiss pharmaceutical giant Novartis, which gives the latter an option to obtain worldwide license to develop and commercialize its novel drug QPI-1002 for acute kidney injury.
Under the terms, Novartis will initially pay Quark a non-refundable $10 million, and further on exercising its option, would pay approximately $670 million as fees and milestone payments. Quark would also be entitled to potential royalties on sales of licensed
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