Novartis and QLT extend skin cancer agreement

Novartis Ophthalmics and QLT have expanded their alliance toco-develop the photodynamic therapy verteporfin beyond ophthalmology and into skin cancer and other dermatological conditions. Novartis will fund future development costs of the drug in non-melanoma skin cancer to a maximum of C$15 million ($9.7 million). After that, costs will be shared by both firms. QLT will receive milestone payments of up to C$2.5 million for the first regulatory approval. A Phase II program is expected to begin next year.