Ophthotech Shares Late-Stage Progress of Fovista
CEO David R. Guyer, MD reports that Phase III clinical trials of Ophthotech Corp.’s Fovista, a first-in-class anti-PDGF agent for wet AMD combination therapy, are on track. The company expects to receive top-line data in 2016. Meanwhile, Ophthotech is partnering with Novartis to sell Fovista outside the US. The deal could be worth $1 billion if all up-front and milestone payments are made.
David Guyer, MD
Under Dr. Guyer’s leadership, Ophthotech raised more than $350 million in financing from May to September 2013, including a $192 million IPO, a multi-tranched $125 million royalty financing deal with Novo A/S and a $50 million Series C private funding round.