QLT Inc. announces exclusive option for potential sale of PPDS for $500K

theflyonthewall.com

QLT Inc. announced that the company has entered into an exclusive option agreement with Mati Therapeutics under which QLT has granted Mati a 90-day option to acquire assets related to QLT's punctal plug drug delivery system, or PPDS, technology in exchange for $500,000. The option may be extended by Mati for up to three successive 30-day periods upon payment of an additional $100,000 for each extension. Should Mati exercise the option, QLT and Mati will enter into an asset purchase agreement and QLT will be entitled to a closing payment of $750,000, certain milestone payments and a low single digit royalty on world-wide net sales of all products using or developed from the Technology.

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