QLT says therapy fails Phase II trial

Canada’s QLT, a Vancouver-based developer of light-activated pharmaceuticals, says that it is suspending work on an experimental therapy for
enlarged prostate because the drug “did not meet the study’s primary efficacy objective at three months.”

Researchers announced that lemuteporfin failed to significantly decrease
symptoms of benign prostatic hyperplasia after three months of treatment
compared with a placebo.

“While the decrease in AUA (American Urological Association) Symptom Score was consistent with that seen after other minimally invasive therapies there was no significant difference between treatment and sham-control groups.”

“The preliminary result of this trial does not support initiation of Phase
III clinical trials of lemuteporfin in BPH at this time,” commented Bob
Butchofsky, QLT’s acting chief executive officer. “We intend to complete the
analysis of the data, including the six-month measurements, in order to
determine the best path forward.”

source: QLT’s press release, February 14, 2006.