Beaufour Ipsen And QLT In European Licensing Deal

QLT PhotoTherapeutics of Canada and Speywood Pharmaceuticals of the UK,part of the French Beaufour Ipsen group, have signed a licensing, co-development and marketing agreement (Marketletter December 23, 1996).

The deal gives BI exclusive European marketing and distribution rights to the light-activated cancer drug Photofrin (porfimer sodium; Marketletters passim), and one of QLT's second-generation compounds for use in the treatment of cancerous and precancerous disease conditions, including Barrett's esophagus and benign prostatic hyperplasia.

In return, BI will provide up to $28 million in access fees, milestone payments and minimum R&D funding commitments. The R&D funding provided by BI for Europe will complement the work performed by QLT and its other strategic partners outside Europe. Additional R&D costs in excess of the minimum commitment of BI will be shared equally by the two firms. QLT will be responsible for manufacturing and BI will pay QLT a royalty on product sales plus a manufacturing transfer price.