QLT Completes Sale of Punctal Plug Technology to Mati Therapeutics

QLT Completes Sale of Punctal Plug Technology to Mati Therapeutics

VANCOUVER, British Columbia, April 4, 2013 (GLOBE NEWSWIRE) -- QLT Inc.
(Nasdaq:QLTI) (TSX:QLT) ("QLT" or the "Company") announced today that it has
completed the sale of the Company's punctal plug drug delivery system ("PPDS")
technology (the "Technology") to Mati Therapeutics Inc. ("Mati"), a
development company founded by Robert Butchofsky, QLT's former President &
CEO. As previously reported, on December 24, 2012, the Company entered into an
exclusive option agreement with Mati under which QLT granted Mati a 90-day
option to acquire assets related to QLT's PPDS Technology in exchange for
$500,000. On April 3, 2013, following Mati's exercise of the option, the
Company and Mati entered into an asset purchase agreement and completed the
sale of the PPDS Technology to Mati. Under the terms of the asset purchase
agreement, QLT received an additional payment of $750,000 at closing and is
eligible to receive potential payments upon the satisfaction of certain
product development and commercialization milestones that could reach $19.5
million (or exceed that amount if more than two products are commercialized),
a low single digit royalty on world-wide net sales of all products using or
developed from the PPDS Technology and a fee on payments received by Mati in
respect of the PPDS Technology other than net sales.

"QLT is satisfied to have completed the sale of the PPDS Technology to its
most consistently bullish proponent. We are also very pleased that many of our
severed employees have been re-hired by Mati Therapeutics. We certainly wish
Mr. Butchofsky and his team the greatest success with the PPDS from which our
owners at QLT stand to benefit," said Mr. Jason M. Aryeh, Chairman of the
Board.

About QLT

QLT is a biotechnology company dedicated to the development and
commercialization of innovative ocular products that address the unmet medical
needs of patients and clinicians worldwide. We are focused on developing our
synthetic retinoid program for the treatment of certain inherited retinal
diseases.

QLT is based in Vancouver, Canada and the Company is publicly traded on NASDAQ
(symbol: QLTI) and the Toronto Stock Exchange (symbol: QLT). For more
information about the Company's products and developments, please visit our
web site at www.qltinc.com.

The QLT Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6933

Certain statements in this press release constitute "forward-looking
statements" of QLT within the meaning of the Private Securities Litigation
Reform Act of 1995 and constitute "forward-looking information" within the
meaning of applicable Canadian securities laws. Forward-looking statements
include, but are not limited to: statements concerning the potential
milestones and royalties on the development and commercialization of the
punctal plug drug delivery system technology; and statements which contain
language such as: "assuming," "prospects," "goal," "future," "projects,"
"potential," "could," "believes," "expects"; "hopes" and "outlook."
Forward-looking statements are predictions only which involve known and
unknown risks, uncertainties and other factors that may cause actual results
to be materially different from those expressed in such statements. Many such
risks, uncertainties and other factors are taken into account as part of our
assumptions underlying these forward-looking statements and include, among
others, the following: risks and uncertainties related to the impacts that
QLT's strategic initiatives will have on the market price of our securities;
uncertainties related to the development of the punctal plug drug delivery
system; uncertainties relating to our development plans, timing and results of
the clinical development and commercialization of our technologies;
assumptions related to continued enrollment trends, efforts and success, and
the associated costs of our programs; outcomes for our clinical trials may not
be favorable or may be less favorable than interim/preliminary results and/or
previous trials; there may be varying interpretations of data produced by one
or more of our clinical trials; the timing, expense and uncertainty associated
with the regulatory approval process for products to advance through
development stages; risks and uncertainties associated with the safety and
effectiveness of our technology; risks and uncertainties related to the scope,
validity, and enforceability of our intellectual property rights and the
impact of patents and other intellectual property of third parties; the
Company's future operating results are uncertain and likely to fluctuate;
currency fluctuations; and general economic conditions and other factors
described in detail in QLT's Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and other filings with the U.S. Securities and Exchange Commission
and Canadian securities regulatory authorities. Forward-looking statements are
based on the current expectations of QLT and QLT does not assume any
obligation to update such information to reflect later events or developments
except as required by law.

CONTACT: Investor & Media Relations
         Andrea Rabney or David Pitts
         Argot Partners
         212-600-1902
         andrea@argotpartners.com
         david@argotpartners.com

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