Photofrin launched in U.S. market.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 1, 1996--QLT (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : QLTIF TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : QLT QLT Quadra Logic Technologies QLT Quick Link Text ) New Modality in treatment of cancer now available in the world's largest pharmaceutical market. QLT PhotoTherapeutics Inc.'s (QLT) light-activated drug PHOTOFRIN(R) is being officially launched into the United States market today, bringing a new form of treatment called Photodynamic Therapy photodynamic therapy n. A type of phototherapy in which a nontoxic light-sensitive compound that has been injected into a patient is exposed selectively to light, whereupon it becomes toxic to targeted malignant and other diseased cells. to the fight against cancer in the world's largest pharmaceutical marketplace. Dr. Julia Levy, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of QLT, said PHOTOFRIN(R) is being marketed in the U.S. by QLT's commercial partner Sanofi Winthrop, Inc. of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , a division of Paris, France-based pharmaceutical giant Sanofi. PHOTOFRIN(R) is the first Photodynamic Therapy drug to be approved for sale in the United States. "Conventional cancer therapy includes radiation, surgery and chemotherapy. Photodynamic Therapy marks the introduction of a new modality for the treatment of certain cancers," Dr. Levy said. "This therapy has the potential to help a great number of people in the United States and elsewhere." PHOTOFRIN(R) received marketing clearance by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. as a palliative treatment palliative treatment n. Treatment to alleviate symptoms without curing the disease. Palliative treatment A type treatment that does not provide a cure, but eases the symptoms. Mentioned in: Laparoscopy for esophageal cancer patients with totally-obstructing tumors and certain obstructing tumors. "Esophageal cancer is a very aggressive disease with a high mortality rate. Photodynamic Therapy can restore the ability to swallow in most patients with advanced disease," said Dr. Levy. According to the American Cancer Society American Cancer Society, n.pr established in 1913, this national volunteer-based health organization is committed to the elimination of cancer through prevention and treatment and to diminishing cancer suffering through advocacy, scholarship, research, , there are more than 12,000 new cases of esophageal cancer in the United States and about 11,000 deaths annually. In Photodynamic Therapy, the light-activated drug is administered intravenously to the patient. This is followed by an interval during which the drug circulates, accumulates and is retained in tumors, while largely clearing from other tissues. The drug has no effect on tumors until it is activated by non-thermal red light. This produces an active form of oxygen that destroys the cancer. "Treatment with PHOTOFRIN(R) is desirable because its action in destroying tumors is relatively selective," says Dr. Charles Lightdale, Director of Clinical Gastroenterology at Columbia- Presbyterian Medical Centre in New York. Photodynamic Therapy with PHOTOFRIN(R) has also received marketing clearance for the treatment of certain forms of cancer by health authorities in Japan, Holland, France and Canada. PHOTOFRIN(R) is also under review for marketing approval in several other European jurisdictions. In January, Sanofi Winthrop and QLT signed a marketing and development agreement in which Sanofi Winthrop acquired exclusive U.S. and Caribbean marketing rights to PHOTOFRIN(R) and other light-activated compounds for cancerous conditions. QLT PhotoTherapeutics Inc. is a world leader in the development of new pharmaceutical products and applications for Photodynamic Therapy. The company has several drugs under development for the treatment of cancer, diseases of the eye and other diseases. QLT's second-generation product, Benzoporphyrin derivative (BPD-MA) is undergoing clinical trials for the treatment of age-related macular degeneration Age-related macular degeneration (ARMD) Degeneration of the macula (the central part of the retina where the rods and cones are most dense) that leads to loss of central vision in people over 60. , the leading cause of blindness in the elderly. QLT is the only company in any jurisdiction to gain regulatory approval to market a light-activated drug for use in Photodynamic Therapy. CONTACT: QLT PhotoTherapeutics Inc. Tamara Hicks, 604/872-7881 800/663-5486 or James Hoggan & Associates Karen Cook, 604/739-7500 or James Hoggan & Associates Lorraine Wilson, 604/739-7500 |
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