Quark Pharmaceuticals, Inc., a Fremont, California-based developer of RNAi-based therapeutics, closed a $10m financing round.
Investors include Japan-based SBI Holdings Group. In conjunction with the round, Mr. Yoshitaka Kitao and Mr. Robert Takeuchi, respectively CEO and Director of SBI Investment Co., Ltd., will join Quark’s board of directors.
The company will use the new capital to advance its RNAi drug pipeline, which are currently being evaluated in five different clinical trials.
Quark’s pipeline is led by PF-04523655, currently in two Phase II clinical trials for the treatment of wet age-related macular degeneration (AMD) and diabetic macular edema (DME).
The company is also evaluating QPI-1002, a systemically administered siRNA drug in human clinical trials. Enrollment was completed in Phase I studies and Phase II clinical studies are planned to start in a short period of time.
Quark operates R&D facilities in Boulder, Colorado and Ness-Ziona, Israel.