Profile
QLT Inc. (QLT) is a world leader in the development and commercialization of proprietary
pharmaceutical products for photodynamic therapy, a field of medicine that uses light-activated drugs for the
treatment of cancer, diseases of the eye and other medical conditions.
QLT has distinguished itself as the only company to have achieved regulatory approval for a pharmaceutical product and
related devices for use in photodynamic therapy. The Company's success is the result of a commitment to discovering
new and innovative applications for its core technology and in-house expertise in taking a drug to market, including
compound design and development, all phases of pre-clinical and clinical research, and international regulatory acumen.
For marketing and distribution of products, QLT has formed and actively manages a number of key strategic alliances.
Current partners include CIBA Vision, Sanofi Pharmaceuticals, Beaufour Ipsen, Lederle (Japan), and Ligand
Pharmaceuticals. QLT has also formed alliances with Coherent and Laserscope for the marketing and distribution of
photodynamic therapy laser systems and with American Home Products for the manufacturing of PHOTOFRIN.
A strong financial position - the result of a successful equity financing in the spring of 1996 and current revenues
from PHOTFRIN sales - enables QLT to move forward with its business strategy and remain a leader in the field of
photodynamic therapy.
The Technology
Photodynamic therapy is a broad technology with a wide range of possible medical applications. Any disease associated
with rapidly-growing (hyperproliferative) tissue or adnormal blood vessels (neovasculature) is a potential candidate
for treatment with this technology.
Photodynamic therapy is a minimally-invasive procedure consisting of drug administration and subsequent light
activation. In a typical procedure, the photosensitive drug is injected into the patient intravenously. Administration
is followed by an interval during which the drug circulates throughout the body, accumulating in abnormal tissue
while clearing from normal cells. Once the drug reaches an appropriate concentration in the target cells, it is
activated by a pre-calculated dose of light of a specific wavelength. Activation of the drug results in the production
of a highly reactive form of oxygen, called singlet oxygen, which in turn, causes cell destruction.
Red, non-thermal laser light is used to activate QLT's drugs while a fiber optic delivers the light to the treatment
site. Neither the drug nor the light exert an effect on their own. Because of its selectivity, photodynamic therapy
offers the benefit of killing or altering disease-causing cells while sparing healthy tissues.
Products
QLT's lead product, PHOTOFRIN (porfimer sodium) has been approved for the treatment of various cancers in the United
States, Canada, Japan and Europe. PHOTOFRIN is the only light-activated drug approved for marketing in any
jurisdiction. Additional indications being developed with PHOTOFRIN include Barrett's esophagus and head and neck
cancer.
The company's second product, Benzoporphyrin derivative (BPD-MA (verteporfin)), was developed to have different
characteristics making it suitable for the treatment of diseases other than cancer. BPD-MA is currently in phase III
development for the treatment of age-related macular degeneration (ARMD), the leading cause of blindness in the
elderly. BPD-MA is in Phase I development for various autoimmune conditions, including psoriatic arthritis and
rheumatoid arthritis. Additional development areas include early-stage Barrett's esophagus as well as other ophthalmic
conditions.
A number of additional photosensitive compounds are currently under development at QLT. The company plans to introduce
new photosensitizers as new applications for photodynamic therapy are developed and introduced into the clinic.
