26th August 2008
Reckitt Benckiser Pharmaceuticals Inc. Announces Exclusive Licensing Agreement
with QLT USA, Inc. for Atrigel® Technology
-Technology allows injection of pharmaceuticals for long-term sustained release
--
Richmond, VA (26 August, 2008) - Reckitt Benckiser Pharmaceuticals Inc.
announced today that it has entered into an exclusive licensing agreement with
QLT USA, Inc., a wholly-owned subsidiary of QLT Inc. (NASDAQ:QLTI) (TSX:QLT),
for QLT USA's Atrigel® sustained-release drug delivery technology, except for
certain rights being retained by QLT USA and its prior licensees. Under the
terms of the license, QLT USA will receive an upfront total of $25 million USD
and may receive potential milestone payments of up to $5 million USD based on
the successful development of two Atrigel®-formulated products. Reckitt
Benckiser Pharmaceuticals will assume operations at QLT USA's corporate
facility in Fort Collins, CO, together with 18 QLT USA employees as part of the
agreement.
"Our exclusive licensing of the Atrigel® platform underscores our long-term
commitment to expanding our pharmaceutical pipeline and building upon our
addiction therapy franchise," said Shaun Thaxter, President of Reckitt
Benckiser Pharmaceuticals. "This agreement with QLT USA represents a strategic
business opportunity that will contribute to the longevity and continued growth
of our company going forward. In parallel with this announcement we continue
our efforts to secure opportunities which will contribute to our near term and
intermediate term strategic objectives that will make a difference in the lives
of patients."
Reckitt Benckiser Pharmaceuticals manufactures and markets Suboxone®
(buprenorphine HCl/naloxone HCl dihydrate) C-III Sublingual Tablets and Subutex
® (buprenorphine HCl) C-III Sublingual Tablets in the USA, formulations of
buprenorphine used to treat opioid dependence.
About Reckitt Benckiser PharmaceuticalsInc.
Reckitt Benckiser Pharmaceuticals Inc. is a specialty pharmaceutical company
that manufactures and markets Suboxone® (buprenorphine HCl/naloxone HCl
dihydrate [2 mg/0.5 mg and 8 mg/2 mg]) C-III Sublingual Tablets and Subutex®
(buprenorphine HCl [2 mg and 8 mg]) C-III Sublingual Tablets, formulations of
buprenorphine used to treat opioid dependence. Suboxone and Subutex are the
only controlled medications under the Drug Addiction Treatment Act of 2000
approved by the FDA for office-based treatment of opioid dependence. Reckitt
Benckiser Pharmaceuticals Inc. is committed to expanding access to medical
therapies for patients suffering from the chronic, relapsing brain disease of
opioid dependence. For more information, visit suboxone.com or turntohelp.com.
Reckitt Benckiser Pharmaceuticals Inc. is a wholly-owned subsidiary of Reckitt
Benckiser PLC, a publicly traded UK company.
About QLT Inc.
QLT Inc. is a global biopharmaceutical company dedicated to the discovery,
development and commercialization of innovative therapies. QLT's research and
development efforts are focused on pharmaceutical products in the fields of
ophthalmology and dermatology. In addition, QLT utilizes three unique
technology platforms, photodynamic therapy, Atrigel® and punctal plugs with
drugs, to create products such as Visudyne® and Eligard® and future product
opportunities. For more information, visit QLT's web site at www.qltinc.com.
QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol "QLTI"
and on The Toronto Stock Exchange under the trading symbol "QLT."
About Atrigel®
The Atrigel® drug delivery system consists of biodegradable polymers dissolved
in biocompatible carriers. Pharmaceuticals may be blended into this liquid
delivery system at the time of manufacturing or, depending upon the product,
may be added later by the physician at the time of use. When the liquid product
is injected into the subcutaneous space through a small gauge needle or placed
into accessible tissue sites through a cannula, water in the tissue fluids
causes the polymer to precipitate and trap the drug in a solid implant. The
drug encapsulated within the implant is then released in a controlled manner as
the polymer matrix biodegrades with time.
Reckitt Benckiser Pharmaceuticals Inc. USA Media Contact:
Lindsay Treadway
Feinstein Kean Healthcare
Telephone: 617-761-6738, Fax: 617-577-8985
Lindsay.Treadway@fkhealth.com
Atrigel is a registered trademark of QLT USA, Inc.
Visudyne is a registered trademark of Novartis AG.
Eligard is a registered trademark of Sanofi-aventis.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.