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QLT acquires leading edge ocular drug delivery system from ForSight Labs
Date:10/8/2007

uarters by obtaining a mortgage or other financial structures.

"We are very excited to work with the experienced drug and device development teams at QLT to advance this technology," said Eugene de Juan Jr., M.D., Founder and Vice-Chairman of ForSight Labs. "We think this is a very significant technology that could ultimately lead to a sea of change in the way medications are delivered to the eye."

ForSight Newco II's proprietary punctal plugs are a non-invasive drug delivery system capable of delivering a variety of drugs to the eye over time through controlled release to the tear film. Sustained release punctal plugs could potentially replace eye drops for glaucoma, dry eye, allergies and postoperative care, which represent a $6 billion market. In addition, plugs may provide a more effective, convenient and reliable treatment alternative that could ultimately improve patient compliance with their medication and outcomes for their disease.

Through this acquisition, QLT, through its wholly-owned subsidiary, will obtain worldwide rights to commercialize ForSight Newco II's proprietary punctal plug technology combined with any active pharmaceutical ingredient, and will lead and fund future development efforts in this program. QLT plans to initiate a Phase I/II clinical trial with the first product using ForSight Newco II's proprietary technology for the treatment of glaucoma in the first half of 2008. Glaucoma affects approximately 65 million people worldwide and is the second leading cause of blindness. Approximately 99% of glaucoma patients are treated with topical medications, 4-6% receive surgery and on average each diagnosed patient has multiple visits to ophthalmologist per year. Compliance with topical eye drop medications in glaucoma patients is poor, with approximately half of treated patients not refilling their prescription after the first six months of therapy. In spite of this, the glaucoma market continues to grow and in the U.S. repres
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SOURCE QLT Inc.
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