LONDON (Thomson Financial) - SR Pharma PLC said it intends to carry out mo
re pre-clinical testing on its lead molecule Atu027, its first RNAi cancer therapeutic, before starting human trials in 2008, adding it received a 1.5 mln usd milestone payment from Quark Biotech & Pfizer Inc as a result of its AtuRNAi product.
Quark has also exercised its option over a licence to a second AtuRNAi product for a further milestone payment of 500,000 eur, SR Pharma said.
SR Pharma added that shareholders at its EGM approved the issue of new shares worth up to 113,065 stg, representing about 10 pct of the share capital to third parties, and for the company to change its name to Silence Therapeutics PLC with effect from April 30.
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