Ophthotech is a privately held biopharmaceutical company developing Fovista (anti-PDGF) for use in combination with anti-VEGF therapy to treat neovascular age-related macular degeneration (wet AMD). The company reported positive Phase 2b results in 449 patients, with combination therapy yielding a mean gain of 10.6 ETDRS letters at 24 weeks versus 6.5 letters for Lucentis monotherapy (p=0.019), representing a 62% additional benefit. Ophthotech plans a global Phase 3 program expected to begin in Q3 2013 and to enroll nearly 1,900 patients across more than 200 centers worldwide. Its pipeline also includes ARC1905, an anti-C5 agent being developed for wet and dry AMD. The company is headquartered in New York with additional offices in Princeton, NJ. Ophthotech's venture investors include SV Life Sciences, Novo Ventures, HBM Healthcare Investments, and Clarus Ventures. Ophthotech Corp. is a Princeton, NJ and New York–based developer of therapies for eye diseases focused on wet and dry age-related macular degeneration (AMD). The company’s lead product candidate is E10030, intended for treatment of wet AMD. Ophthotech will use the proceeds of the financing to fund a Phase 2 combination trial of E10030 and to support development activities for its other targeted therapies for wet and dry AMD. AMD is cited in the article as one of the main causes of blindness for people over the age of 50 in the United States and Europe, underscoring the clinical need. Existing investors SV Life Sciences, Novo A/S and HBM BioVentures participated in the round. In conjunction with the financing, Nicholas Galakatos, Ph.D., managing director of Clarus, joined Ophthotech’s board of directors.

Total raised

$205M

Funding rounds

3

Latest round

Series C

Latest activity

May 2013