Company has first option to negotiate license to patented products resulting from the collaboration.
QLT will research and develop potential treatments for dry age-related macular degeneration (AMD), under a two-year research collaboration and option agreement with the Wilmer Eye Institute at Johns Hopkins University.
The agreement provides QLT with the first option to negotiate an exclusive license to patented products resulting from the research that could ultimately prevent the production and accumulation of toxic lipids in the eye that are believed to be key early events in dry AMD.
Under the terms of the agreement, Johns Hopkins University will receive $1.45 million in research funding over two years. If QLT exercises its license option, it will pay Johns Hopkins certain financial milestones and royalties.