Market Overview

QLT Inc. Announces Option Deal for Potential Sale of Punctal Plug Delivery Systems

Related QLTI
QLT Publishes Data From Phase 1b Trial Of QLT091001 In Subjects With Leber Congenital Amaurosis In The Lancet Journal
Auxilium And QLT To Merge On Tax Saving Attractions - Analyst Blog

QLT Inc. (Nasdaq: QLTI) announced today that the Company has entered into an exclusive option agreement with Mati Therapeutics Inc. ("Mati"), a development company associated with Robert Butchofsky, QLT's former President & CEO, under which QLT has granted Mati a 90-day option to acquire assets related to QLT's punctal plug drug delivery system ("PPDS") technology (the "Technology") in exchange for $500,000. The option may be extended by Mati for up to three successive 30-day periods upon payment of an additional $100,000 for each extension. Should Mati exercise the option, QLT and Mati will enter into an asset purchase agreement and QLT will be entitled to a closing payment of $750,000, certain milestone payments and a low single digit royalty on world-wide net sales of all products using or developed from the Technology.

Posted-In: News Asset Sales

 

Related Articles (QLTI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters