QLT, Wilmer Eye Institute sign R&D agreement

Vancouver, British Columbia-QLT Inc. has entered into a 2-year research collaboration and option agreement with investigators at The Wilmer Eye Institute at Johns Hopkins University, Baltimore, to study and develop potential treatments for dry age-related macular degeneration (AMD).

Under the terms of the agreement, QLT will provide Johns Hopkins with $1.45 million in funding over 2 years to support research by James T. Handa, MD, and Peter L. Gehlbach, MD, PhD, of the institute. Dr. Handa is the associate chief of the retina division and vice chairman for quality assurance, and Dr. Gehlbach is an assistant professor.

The agreement provides QLT with the first option to negotiate an exclusive license to patented products resulting from the research. If QLT exercises this option, then the company will pay the university certain financial milestones and royalties.

“It is an honor to have the opportunity to collaborate with The Wilmer Eye Institute, which is one of the world’s most prestigious academic ophthalmic institutions,” said Bob Butchofsky, president and chief executive officer of QLT. “This agreement further demonstrates QLT’s focus and commitment to achieving our goal of developing new treatments for ocular diseases.”