CollaGenex extends marketing pact with QLT, raises royalty payments

By Ted A. Knutson

Washington, Feb. 28 - CollaGenex Pharmaceuticals, Inc., said Tuesday it has amended its license and marketing agreement with QLT USA Inc., formerly known as Atrix Laboratories Inc.

Under the revised agreement, CollaGenex will continue to sell QLT's products - Atridox, Atrisorb FreeFlow and Atrisorb-D - and pay an increased royalty on net sales, but CollaGenex will no longer be required to make annual minimum expenditures for advertising and promotions.

The amount of the increase royalty payment was not disclosed.

The amendment extends the term of the agreement through Dec. 31, 2007, which renews automatically for successive additional terms of one year. However, either party may terminate the agreement at any time with six months prior written notice.

CollaGenex is a Newtown, Pa.-based biotechnology company.

QLT is a Vancouver, B.C., biopharmaceutical company specializing in developing treatments for eye diseases and dermatological and urological conditions.

The announcement was made in an 8-K filing with the Securities and Exchange Commission.

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