VANCOUVER, Dec. 11 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ: QLTI; TSX: QLT) today announced that the Board of Directors has engaged Goldman, Sachs & Co., a leading global investment bank, as its financial advisor to assist the Company in identifying, evaluating and pursuing alternative strategies to maximize shareholder value.
"We have chosen Goldman Sachs for this assignment because of its experience in strategic transactions and its in-depth knowledge of the life sciences market," said Boyd Clarke, QLT's Chairman.
As previously indicated, the Special Committee of the Board, with the advice of Goldman Sachs, will evaluate all opportunities, including transactions involving the sale of all or part of the assets of the Company.
During the evaluation of specific strategic alternatives QLT does not expect to make comments on its process or progress. In addition, no inference should be drawn if QLT does not respond to individual questions, rumors or press reports concerning the business or activities of the Company.
QLT Inc. is a global biopharmaceutical company dedicated to the
discovery, development and commercialization of innovative therapies. Our
research and development efforts are focused on pharmaceutical products in
the fields of ophthalmology and dermatology. In addition, we utilize three
unique technology platforms, photodynamic therapy, Atrigel(R) and punctal
plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and
future product opportunities. For more information, visit our web site at
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.
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.
CONTACT: QLT Inc.: Vancouver, Canada, Therese Hayes, Telephone: (604) 707-7000 or 1-800-663-5486, Fax: (604) 707-7001
|SOURCE QLT Inc.|
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