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In conjunction with the sale, QLT has entered into a five-year lease with Discovery Parks for approximately thirty percent of the facility and will provide two-year 6.5% interest-only second mortgage vendor financing in the amount of Cdn$12 million.
"This now marks the completion of another non-core asset transaction," said Bob Butchofsky, President and Chief Executive Officer of QLT. "We are very pleased with the progress we have made in our efforts to restructure the Company. We believe the Company is nicely positioned to deliver on the remainder of our principal goals, including the divestment of our remaining non-core asset Eligard and advancements in our clinical development programs, including obtaining data from our Phase 2 CORE study examining our punctal plug elution technology." -- www.cnxmarketlink.com
Posted September 4th, 2008 by ruzik_tuzik
