QLT, Valocor deal

Newco Valocor acquired QLT91382, QLT418 and QLT450 from QLT and received exclusive, worldwide rights to QLT's lemuteporfin. QLT discontinued development of lemuteporfin in 2008 after a Phase I/II trial showed the topical photosensitizer did not meet an internal therapeutic threshold, but has since reformulated it to improve delivery. Valocor, which was founded by former QLT executives, plans to start a Phase I/II trial of the new formulation early next year.

Valocor renamed QLT91382, QLT418 and QLT450 as VAL-001, VAL-002 and VAL-003, respectively. VAL-001 is a topical sebum inhibitor in preclinical testing to treat acne, while VAL-002 is a topical kinase inhibitor in preclinical development to treat atopic dermatitis and other inflammatory skin conditions. VAL-003 is a kinase inhibitor in preclinical development to treat vitiligo. QLT said the dermatology programs no longer fit its focus on ophthalmics. Financial terms were not disclosed. (see BioCentury, Aug. 4, 2008). ...