CIBA VISION TO CODEVELOP QLT'S PDT

Ciba Vision Ophthalmics and Quadra Logical Technologies have signed a letter of intent to pursue worldwide joint development of QLT's photodynamic therapy as a potential treatment for certain eye diseases. The alliance between the two companies calls for Ciba Vision to fund 60% of the development costs, with QLT responsible for the remaining 40%.

The initial development project will focus on QLT's benzoporphyrin derivative, or BPD. QLT has carried out preclinical testing in collaboration with Harvard Medical School and Wellman Laboratories of Photomedicine, which indicate that BPD may be effective in treating eye conditions which are associated with the abnormal growth of blood vessels, also known as neovascularization.

The two companies will target BPD therapy in the first instance for age-related macular degeneration, a leading cause of blindness in the western world. An estimated seven million North Americans suffer the condition and approximately 40,000 new cases are diagnosed annually, according to Ciba. The agreement between the two companies also covers other potential applications of PDT in ophthalmology such as corneal neovascularization, intraocular tumors, epithelial overgrowth following cataract surgery and diabetic retinopathy.