Novartis options Quark program in $680M pact

Underscoring the rich potential of new siRNA therapeutics, Novartis has agreed to pay Quark Pharmaceuticals up to $680 million to nail the licensing rights to a new therapy for kidney-related diseases. Quark will get $10 million upfront for an option on QPI-1002, which is currently in Phase II for kidney-related conditions. If Novartis decides to pull the trigger on the option, it will pay out up to $670 million more in fees and milestones. The drug is being developed for acute kidney disease...

Genentech licenses UK package of small molecule drugs

London-based MRC Technology has inked a licensing pact with Genentech for a package of small molecule drug candidates for neurological conditions. MRC gets an unspecified upfront payment along with a slate of potential milestones for the licensing deal, the first major small molecule collaboration MRC has struck for its Centre for Therapeutics Discovery. CTD was formed a year ago from the MRC Technology Drug Discovery Group. MRC Technology not only works with targets from the U.K.'s Medical...