Mati Therapeutics Inc. acquired assets related to punctal plug drug delivery system technology from QLT Inc. (NasdaqGS:QLTI) for $20.3 million in cash and escrow on April 3, 2013. Under the terms of the asset purchase agreement, QLT received a payment of $0.75 million at closing and is eligible to receive potential payments upon the satisfaction of certain product development and commercialization milestones that could reach $19.5 million (or exceed that amount if more ... than two products are commercialized), a low single digit royalty on world-wide net sales of all products using or developed from the punctal plug drug delivery system technology and a fee on payments received by Mati in respect of the punctal plug drug delivery system technology other than net sales. Andrea Rabney and David Pitts acted as investor and media relations advisor to QLT. The Goldman Sachs Group, Inc. (NYSE:GS) acted as financial advisor to QLT. Alan C. Mendelson of Latham & Watkins LLP acted as legal advisor to Mati Therapeutics. James E. Dawson of Nutter McClennen & Fish LLP acted as legal advisor to QLT.
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