Qlt Inc (QLTI): Broadfin’s Kevin Kotler to Become Director of Novelion

Page 5 of 8 – SEC Filing

CUSIP No.

746927102

Item 1.

Security and Issuer.

	This statement on Schedule 13D (the “Schedule 13D”) relates to the Common Stock (the “Common Stock”) of QLT Inc., a British Columbia corporation with its principal executive offices located at 887 Great Northern Way, Suite 250 Vancouver A1 V5T 4T5 (the “Issuer”).

Item 2.

Identity and Background.

(a)-(c), (f)

This Schedule 13D is being filed jointly by (i) Broadfin Capital, LLC, a Delaware limited liability company, (ii) Broadfin Healthcare Master Fund, Ltd., an exempted company incorporated and existing under the laws of the Cayman Islands, and (iii) Kevin Kotler, a United States citizen (collectively, the “Reporting Persons”). The principal business address of the Reporting Persons is 300 Park Avenue, 25th Floor, New York, New York 10022. Kevin Kotler is the managing member of Broadfin Capital, LLC, an investment management firm that serves as the investment manager to Broadfin Healthcare Master Fund, Ltd.  The principal business of Broadfin Healthcare Master Fund, Ltd. is purchasing, holding and selling securities for investment purposes.

	(d)	None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
	(e)	None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.

Item 3.

Source and Amount of Funds or Other Consideration.

The funds for the purchase of the Shares beneficially owned by the Reporting Persons came from the working capital of Broadfin Healthcare Master Fund, Ltd. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary course of business.

Item 4.

Purpose of Transaction.

On June 14, 2016, the Issuer, Aegerion Pharmaceuticals, Inc., a Delaware corporation (“AEGR”) and Isotope Acquisition Corp., a Delaware corporation and a wholly-owned indirect subsidiary of the Issuer (“MergerCo”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), which provides, among other things, that MergerCo will be merged with and into AEGR (the “Merger”), with AEGR surviving the Merger as a wholly-owned indirect subsidiary of the Issuer.  It is anticipated that the name of the Issuer will be changed to “Novelion Therapeutics Inc” (“Novelion”).  Under the terms of the Merger Agreement, upon the consummation of the Merger, the board of directors of Novelion will include one person designated by the Reporting Persons. Along with the execution of the Merger Agreement, certain of the Reporting Persons and the Issuer entered into a Voting Agreement (the “Voting Agreement”), pursuant to which, among other things, such Reporting Persons agreed not to dispose of their Shares while the Merger is pending and to vote their Shares in favor of the Merger at the applicable meeting of the Issuer’s shareholders.  The Voting Agreement and the obligations of the Reporting Persons thereunder will terminate upon the earlier to occur of (a) the termination of the Merger Agreement pursuant to its terms, (b) the date of any material amendments, modifications, changes or waivers to any provision of the Merger Agreement, (c) the date on which either the Issuer’s board of directors or AEGR’s board of directors changes its recommendation of the Merger to its shareholders in accordance with the terms of the Merger Agreement, and (d) the date on which the Merger is consummated. Additionally, subject to the satisfaction or waiver of the conditions to closing the Merger, the Reporting Persons have agreed to participate in a private placement of the Issuer’s Shares immediately prior to the Merger closing. Pursuant to the Form S-4 filed by the Issuer on September 9, 2016, upon the consummation of the Merger, Kevin Kotler will become a director of Novelion.