Quark Pharmaceuticals has granted Novartis an option to obtain an exclusive worldwide license to develop and commercialize its p53 temporary inhibitor siRNA drug QPI-1002 currently in Phase II development. Quark will receive a $10 million upfront payment. If Novartis exercises the option, Quark would receive option exercise fees and milestone payments that could potentially total $670 million, as well as potential royalties on sales. Dr. Daniel Zurr, Quark’s chief executive officer, ...