Ms. Andrea Rabney of Argot Partners reports

QLT PROVIDES FURTHER UPDATE ON ITS PROPOSED ACQUISITION OF INSITE VISION INCORPORATED

QLT Inc. has provided the following update.

QLT has been advised by InSite Vision Inc. that InSite has received a second unsolicited offer from the multinational pharmaceutical company that initially made an unsolicited offer, as announced in QLT's press release on Aug. 10, 2015, to acquire all of the issued and outstanding shares of InSite. The new proposal is only subject to due diligence regarding the recently filed BromSite patent lawsuit. InSite has further advised QLT that the board of directors of InSite, in consultation with its financial and legal advisers, will carefully review all aspects of the new proposal, and has not changed its recommendation with respect to the proposed merger with QLT pursuant to the amended and restated agreement and plan of merger, dated June 8, 2015, by and among InSite, QLT and Isotope Acquisition Corp., as amended and restated on July 16, 2015, and Aug. 26, 2015. The amended and restated merger agreement continues in full force and effect.

QLT's board of directors reaffirms its support for the merger with InSite pursuant to the amended and restated merger agreement and believes that such a transaction continues to be in the best interest of QLT.

We seek Safe Harbor.