Novartis Inks $670M Deal For Kidney Treatment Drug

Law360, New York (August 18, 2010, 4:40 PM EDT) -- Novartis AG has entered into a $670 million licensing deal with privately held Quark Pharmaceuticals Inc. for an experimental drug that helps prevent kidney injury, Quark said Wednesday.

The deal grants Novartis an option to obtain an exclusive worldwide license to develop and commercialize the drug known as QPI-1002.

It is being developed to prevent acute kidney injury in patients undergoing major cardiovascular surgery, and to prevent a form of acute renal failure in patients receiving kidney transplants.

The drug, which is currently in Phase 2...
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