NEW YORK - Biotechnology company QLT Inc. said Tuesday its U.S. subsidiary has licensed Atrigel drug delivery technology to Reckitt Benckiser Pharmaceuticals for $25 million, plus potential milestone payments.
Vancouver-based QLT said it will receive additional payments of as much as $5 million if Reckitt Benckiser successfully develops two drugs using the Atrigel sustained-release technology. Reckitt acquired 18 employees and a corporate facility in Fort Collins, Colo., as part of the deal with QLT USA.
QLT has been selling off assets since January, when it announced a plan to focus on its macular degeneration treatment Visudyne. The company plans to sell QLT USA in its entirety, and has already sold its acne gel Aczone for $150 million, to Allergan Inc. It has also cut staff and sold its headquarters.
QLT said it has sold off assets worth $240 million to date.

The HTC Droid Eris will be available alongside the Motorola Droid this Friday, N...
The New York City will give 500 tickets for the ceremony on Thursday from 2:00 p.m. to 4:00 p.m. EST.


Online distributor for point of sale equipment, TYSSO and Pegasus.