Ciba Vision, QLT To Work On Ophthalmics

Ciba Vision Ophthalmics and Quadra Logic Technologies have signed an agreement to pursue the worldwide development and commercialization of photodynamic therapy as a treatment for eye diseases. The first project will focus on age-related macular degeneration, which is the leading cause of blindness in the elderly. The two companies signed a letter of intent for the collaboration on June 1, 1994.

Under the terms of the agreement, Ciba Vision will fund 60% of the development costs of the project, with QLT responsible for the remaining 40%. Profits from any products which may result from the collaboration will be shared on a 50/50 basis, after deductions for marketing costs, manufacturing costs and third-party royalties.

"Our joint project has already made substantial progress including the submission of our investigational New Drug applications to the US Food and Drug Administration and German Board of Health in early January," said Randal Chase, president and chief executive of QLT. "Pending clearance of these submissions, human clinical trials will commence in the USA and Germany, using benzoporphyrin to treat AMD," he added.