PDT, Pharmacia & Upjohn deal

The companies agreed to co-develop SnET2 (tin ethyl etiopurpurin), PDTI's light activated compound, for ophthalmology. Pharmacia & Upjohn will reimburse PDTI for incurred ophthalmology development expenses and will fund future clinical studies for diseases of the eye. Pharmacia & Upjohn is responsible for regulatory approval.

PDTI will be eligible for milestones and royalties. Pharmacia & Upjohn did not increase its 7 percent equity position in PDTI. ...