QLT Inc was formed in 1981 under the laws of the Province of British Columbia. It is a biotechnology company conducts development and commercialization of ocular products that address the unmet medical needs of patients and clinicians. The Company is developing QLT091001, a synthetic retinoid compound for the potential treatment of certain age-related and inherited retinal degenerative diseases. Its competitors include pharmaceutical and biopharmaceutical companies. The research and development, preclinical studies and clinical trials, and ultimately, the manufacturing, marketing and labelling of its products, are subject to extensive regulation by the FDA and other regulatory authorities in the U.S. and other countries.