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Biotech / Medical : RNAi -- Ignore unavailable to you. Want to Upgrade?

To: DewDiligence_on_SI who wrote (482)	9/27/2006 8:57:45 AM
From: nigel bates	Read Replies (1) \| Respond to of 671

SR Pharma plc to Receive Milestone Payments of up to US$95 Million (~£50 Million) from Pfizer as a Result of a Sublicensing Deal London, UK, 26 September 2006 ….. SR Pharma plc (London LSE: SPA) announces that its operating subsidiary Atugen AG will receive milestone payments of up to US$95 million as well as royalties as a result of a sublicensing deal announced today between its collaborator Quark Biotech Inc., Atugen AG and Pfizer Inc. SR Pharma will receive an initial payment of $2 million and a first milestone payment of $1.5 million on the start of the Phase I trial. All agreements are subject to certain conditions which include the clearance by the U.S. Federal Trade Commission. The payments relate to a RNAi therapeutic product (RTP-801i) developed under an agreement between Quark and Atugen for the treatment of Age-related Macular Degeneration (AMD) and other diseases. The financial terms of the sublicensing transaction between Quark Biotech and Pfizer have not been disclosed. Quark Biotech and Atugen have collaborated on this AtuRNAi therapeutic siRNA product for AMD since 2004 and are currently collaborating on additional therapeutic AtuRNAi siRNA products in other indications. Iain Ross, Chairman of SR Pharma, said: "This deal, which will result in milestone payments directly to Atugen of up to US$95 million and additional potential upside of royalties, is a significant validation of Atugen's proprietary siRNA technology (AtuRNAi)." Thomas Christély, Chief Executive Officer of Atugen stated: "This is a break-through for SR Pharma's siRNA therapeutics programs as this represents our first siRNA molecule out-licensed to a large pharma company." * Ends - SR Pharma (www.srpharma.com) SR Pharma plc is a European biopharmaceutical company, listed on AIM. The Company has two operating subsidiaries Atugen AG (www.atugen.com) based in Berlin, Germany and Stanford Rook Ltd based in London, UK. Atugen is a leader in RNAi therapeutics. This Company has developed novel, chemically modified proprietary siRNA molecules ("AtuRNAi") and a proprietary delivery system ("AtuPLEX") both of which have advantages over conventional siRNA molecules and their delivery systems. Currently Atugen and its collaboration partners have lead molecules in pre-clinical development for a variety of therapeutic indications. Clinical development of AtuRNAi therapeutic molecules for systemic applications in Atugen's oncology programs are targeted to start in 2007. Other clinical AtuRNAi therapeutic programs of Atugen's collaborators are scheduled to commence in 2H 2006. Stanford Rook Ltd is an immunotherapy based company which owns a proprietary Mycobacterium vaccae-based technology and related products, which have been evaluated in clinical trials for the treatment of asthma, cancer and tuberculosis. In addition this Company has a number of other proprietary immunotherapeutic compounds and related intellectual property. Currently the Company is in discussions with third parties regarding the co-development and out-licensing of M. vaccae and related products