Last C$6.51 CAD
Change Today +0.11 / 1.72%
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As of 3:59 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

887 Great Northern Way

Suite 101

Vancouver, BC V5T 4T5

Canada

Phone: 604-707-7000

Fax: 604-707-7001

QLT Inc., a biotechnology company, engages in the development and commercialization of ocular products that address the unmet medical needs of patients and clinicians worldwide. Product Candidates QLT091001 The company focuses on clinical development programs related to its synthetic retinoid, QLT091001, for the treatment of certain inherited retinal diseases. It is conducting Phase Ib clinical proof-of-concept studies of QLT091001, a synthetic retinoid replacement therapy for 11-cis-retinal, a key biochemical component of the visual retinoid cycle, in patients with Leber Congenital Amaurosis (LCA) and Retinitis Pigmentosa (RP). A retreatment study in LCA and RP subjects is ongoing to provide retreatment for these subjects, as needed, to examine the safety, efficacy, and tolerability of repeat dosing cycles of QLT091001 administered over seven days. QLT091001 has received orphan drug designations for the treatment of LCA and RP by the U.S. Food and Drug Administration (the FDA), and for the treatment of LCA and RP by the European Medicines Agency. The drug has also been granted two Fast Track designations by the FDA for the treatment of LCA and RP due to inherited mutations in the retinal pigment epithelium protein 65 or lecithin:retinol acyltransferase. Research and Development Costs During the year ended December 31, 2012, the company’s sponsored research and development expenses were $24.6 million. Dispositions In 2012, the company entered into an asset purchase agreement with Valeant Pharmaceuticals International, Inc. (Valeant) pursuant to which the company sold to Valeant the company’s assets relating to Visudyne, its Qcellus laser and certain other photodynamic therapy intellectual property. In April 2013, the company completed the sale of its punctal plug drug delivery system technology to Mati Therapeutics Inc. pursuant to an asset purchase agreement. Government Regulation The research and development, preclinical studies and clinical trials, and ultimately, the manufacturing, marketing, and labeling of the company’s products, are subject to regulation by the FDA and other regulatory authorities in the U.S. and other countries. The U.S. Food, Drug and Cosmetic Act and its regulations govern, among other things, the testing, manufacturing, safety, efficacy, labelling, packaging, storage, record keeping, approval, clearance, distribution, export and import, advertising, and promotion of its products. History QLT Inc. was founded in 1981 under the laws of the Province of British Columbia.

 

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