Presentation to Highlight Results of Ocular Neuroprotection Candidate 

Fremont, CA (December 1, 2008) –   Quark Pharmaceuticals, Inc., a development-stage pharmaceutical company discovering and developing novel RNA interference (RNAi)-based therapeutics, today announced that its Chief Operating Officer, Dr. Rami Skaliter is scheduled to present results on the Company’s ocular neuroprotection candidate at the 20th Annual Piper Jaffray Health Care Conference to be held December 2-3, 2008 at the New York Palace in New York City.

Event: 20th Annual Piper Jaffray Health Care Conference
Date:   Tuesday, December 2, 2008
Time: 11:30 am ET

As previously announced, the ocular neuroprotection candidate is the Company’s first RNAi drug candidate having a novel, proprietary structure covered by Quark’s intellectual property. Data has validated its neuroprotective effects on dying retinal ganglion cells, a cause of blindness and glaucoma.

  About Quark Pharmaceuticals, Inc.

Quark Pharmaceuticals, Inc. is a development-stage pharmaceutical company engaged in discovering and developing novel therapeutic RNAi drug candidates. Quark has a fully integrated drug development platform that spans therapeutic target identification to drug development. Quark’s RNAi technology includes novel siRNA structures and chemistry providing Quark with freedom to operate in the siRNA intellectual property arena, as well as the ability for non-invasive delivery of siRNA to target tissues including the eye, ear, kidney, lung, spinal cord and brain.
PF-4523655 (RTP801i-14), currently in Phase II clinical trials, is a synthetic, chemically modified, siRNA molecule to inhibit the expression of the gene RTP801 discovered by Quark through the gene discovery platform BiFAR. PF-4523655 is licensed to Pfizer.  In addition, Quark’s current clinical pipeline includes AKIi-5, developed by Quark for the prevention of acute kidney injury (AKI) following major cardiac surgery, currently in Phase I/IIa clinical trials via systemic delivery and DGFi, about to start phase I/II for prevention of delayed graft function in kidney transplantation. Based on publicly available information, Quark believes AKIi-5 was the first siRNA administered systemically in a human clinical study.
In addition, Quark has a broad pipeline of siRNA drug candidates based on novel structures developed internally. The Company expects to utilize the structures to develop additional RNAi drug candidates. Quark is headquartered in Fremont, California and operates research and development facilities in Boulder, Colorado and Ness-Ziona, Israel. Additional information is available atwww.quarkpharma.com