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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.

Read at BioSpace.com

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