BioDelivery Sciences International (BDSI) Announces Purchase Of Non-U.S. BEMA(TM) Technology From QLT USA, Inc.; Transaction Eliminates Non-U.S. License And Future Milestone And Royalty Obligations To QLT And Provides Option For Purchase Of U.S. Asset
8/3/2006 2:57:55 PM
MORRISVILLE, N.C.--(BUSINESS WIRE)--Aug. 3, 2006--BioDelivery Sciences International, Inc. (NASDAQ:BDSI), a specialty biopharmaceutical company focused on acute care products, including pain therapies has purchased from QLT USA, Inc. ("QLT USA"), a subsidiary of QLT Inc. (NASDAQ:QLTI; TSX:QLT) all of the non-U.S. rights to the BEMA(TM) drug delivery technology, including all patent rights and related intellectual property. Prior to this transaction, BDSI had licensed BEMA(TM) from QLT USA on a worldwide, exclusive basis. Besides the rights to the BEMA(TM) technology outside of the U.S., the agreement gives BDSI an option to purchase the U.S. BEMA(TM) technology patents within 12 months.
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