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QLT Inc. announces initial steps in strategic restructuring
Date:1/16/2008

ecuting our strategy," said Boyd Clarke, QLT's Chairman. "We look forward to working with our advisors and interested parties to maximize stockholder value," he added.

QLT plans to focus its ongoing business primarily on its Visudyne(R) franchise and its clinical development programs related to its punctal plug delivery technology and its photodynamic therapy dermatology technology. The Company expects to achieve the following milestones in these three areas as follows:

1) Visudyne: Completion of enrollment in the RADICAL combination study

with six-month results expected in Q4 2008.

2) Drug in Punctal Plugs for Glaucoma: IND filing for the punctal plug

with drug technology and initiation of a Phase I/II clinical trial

in glaucoma patients in H1, with results on plug retention and drug

elution expected by year end 2008.

3) Photodynamic therapy with Lemuteporfin (QLT00748): Human proof-of-

concept studies for the treatment of moderate to severe acne

expected to be completed in 2008.

The Company expects to gain further insight into the strategic value of these assets as clinical milestones are met. The Board of Directors will continue to evaluate strategic options regarding these assets as they progress through their clinical development.

"I look forward to increasing our operational efficiency and driving our business forward with a clear focus on these three key programs," commented Bob Butchofsky, President and Chief Executive Officer. "We are focused on achieving these important clinical milestones and are excited about their potential to create significant shareholder value."

About QLT

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
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SOURCE QLT Inc.
Copyright©2008 PR Newswire.
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