Quadra Logic Technologies Inc. deal

QLTIF (Vancouver) signed a letter of intent with Ciba-Geigy Ltd. to develop light-activated drugs for use in Photodynamic Therapy (PDT) to treat cancer and psoriasis. The parties will evaluate QLTIF's second-generation Benzoporphyrin derivative (BPD) and Ciba's light-activated drug, Zinc Phthalocyanine (ZnPc).

Under the proposed agreement, QLTIF will grant Ciba an exclusive option to develop BPD to treat cancer and psoriasis. The option would extend for a limited period following the successful completion of the Phase II trial of BPD for cutaneous oncology, which is expected to be completed in early 1995. ...