QLT Ophthalmics, Inc. Establishes An Activis PDT Laser Co-Promotion Agreement With Quantel Medical And Quantel USA In The United States

VANCOUVER, British Columbia, Nov. 29, 2010 (GLOBE NEWSWIRE) -- QLT Inc. (Nasdaq:QLTI) (TSX:QLT) today announced that its wholly-owned U.S. subsidiary, QLT Ophthalmics, Inc. ("QOI"), and Quantel Medical and its distributor, Quantel USA, Inc., have entered into a co-promotion agreement for the sale of Activis PDT Lasers used to activate Visudyne® during photodynamic therapy of primarily classic lesions in wet age-related macular degeneration (AMD). The lasers are manufactured by Quantel Medical and sold by Quantel USA, Inc. and will be promoted by both Quantel USA, Inc. and QOI's sales force to the retina community in the United States.

"This co-promotion arrangement further demonstrates our ongoing commitment to supporting the retina community's treatment of patients with wet AMD," said Bob Butchofsky, President and Chief Executive Officer of QLT. "QLT is pleased to be in a position to enhance our support of U.S. retina specialists by using our existing sales force to market a photodynamic laser option."

Under the terms of the agreement, QOI will have a right to market the laser while Quantel USA, Inc. will accept orders and complete sales for the lasers, and provide QOI a flat fee for each laser sold in the United States, on a per unit basis, as a result of sales generated by QOI. Each party will be responsible for the costs of maintaining and operating its own sales force. The term of the agreement runs for a one year period and thereafter is automatically renewed, unless terminated by either party.

About QLT

QLT Inc. is a biotechnology company dedicated to the development and commercialization of innovative therapies for the eye. We are focused on our commercial product Visudyne® for the treatment of wet-AMD, developing drugs to be delivered in our proprietary punctal plug delivery system, as well as developing our synthetic retinoid program for the treatment of certain inherited retinal diseases. For more information, visit our website at www.qltinc.com .

About QLT Ophthalmics, Inc. (QOI)

QOI is a wholly-owned U.S. subsidiary of QLT Inc. QOI was formed to commercialize QLT pharmaceutical and device products for the ophthalmic community. QOI's current mission is to support and market Visudyne across the U.S. territories including the Mid-Atlantic, Southeast, Northeast, Mid-West, Southwest, West, and Rocky Mountain regions by focusing directly on retinal specialists in the ophthalmic community.