SR Pharma to receive up to $95M from Pfizer sublicensing deal

UK biotechnology firm SR Pharma says that its Germany-based operating subsidiary Atugen AG will receive milestone payments of up to $95.0 million as well as royalties as a result of a sublicensing deal announced between its collaborator Quark Biotech, Atugen AG and world drug giant Pfizer. SR Pharma will receive an initial payment of $2.0 million and a first milestone payment of $1.5 million on the start of the Phase I trial. All agreements are subject to conditions including clearance by the US Federal Trade Commission and relate to an RNAi therapeutic product (RTP-801i) developed under an agreement between Quark and Atugen for the treatment of age-related macular degeneration and other diseases. The financial terms of the sublicensing transaction between Quark Biotech and Pfizer have not been disclosed.