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Drug Names(s): QLT0074, DRM05
Description: QLT0074 is a newly introduced, light-sensitive drug for use in combination photodynamic therapy (PDT). It acts on mitochrondria to initiate the apoptotic cascade resulting in cell death (apoptosis).
Deal Structure: Lemuteporfin was originally developed by QLT, Inc.
In May 2010, Valocor acquired an exclusive license to Lemuteporfin from QLT.
In October 2011, Dermira acquired Valocor Therapeutics.
Auxilium & QLT
In June 2014, Auxilium and QLT announced that they have entered into a definitive agreement under which Auxilium plans to merge with QLT. Under the terms of the agreement, a wholly-owned subsidiary of QLT will be merged with and into Auxilium. QLT will remain incorporated in British Columbia, Canada, and will be renamed New Auxilium. Current shareholders of Auxilium will receive 3.1359 QLT shares for each Auxilium share, subject to certain adjustments. For QLT shareholders, the transaction represents a 25% premium based on a calculation of the closing NASDAQ stock prices of Auxilium and QLT on June 25, 2014, the last trading day prior to the announcement of the merger. When completed, Auxilium shareholders will own approximately 76% of the combined entity on a fully...See full deal structure in Biomedtracker
Partners: QLT, Inc.
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