QLT Inc to acquire inSite Vision and its ophthalmic products

QLT Inc announced that it has entered into a merger agreement with InSite Vision Incorporated pursuant to which QLT will acquire InSite Vision in a share-for-share transaction. InSite Vision is advancing new specialty ophthalmologic products for treatment of diseases affecting the front and back of the eye. The company has two commercial products based on its DuraSite platform approved for the treatment of bacterial eye infections, AzaSite (azithromycin ophthalmic solution) 1%, marketed in the USA by Akorn, and Besivance (besifloxacin ophthalmic suspension) 0.6%, marketed by Bausch & Lomb, a wholly owned subsidiary of Valeant Pharmaceuticals International. InSite Vision has a proprietary portfolio of clinical-stage product candidates, and has filed an NDA for BromSite (0.075% bromfenac) for the treatment of inflammation and prevention of pain associated with cataract surgery. InSite Vision currently plans to file an NDA with the FDA in 2017 for the commercial approval of DexaSite for the treatment of blepharitis. InSite Vision’s AzaSite Plus is advancing through Phase III clinical studies for the treatment of eye infections, and ISV-101 is in Phase I/II clinical development for dry-eye disease and inflammation.