Monday, April 7, 2008

Quark Pharmaceuticals Gets $27M

Fremont-based Quark Pharmaceuticals has raised $27M in private financing, the firm said Monday. The investment came from the investment vehicles of SBI Asset Management Co., Ltd. and SBI Investment Co., Ltd., subsidiaries of SBI Holding Inc. Quark said the funding will go toward clinical studies of its RNAi drug piepeline. Quark Pharmaceuticals is developing and developing drug candidates based on siRNA; the firm's lead compound is AKIi-5, which is targeted at prevention of acute kidney injury (AKI) following major cardiac surgery. The firm said its AKi-5 compound is in Phase I/IIa clinical trials. More information »