Ophthotech gains gene therapy for orphan vision-loss disease

Ophthotech Corp. (NASDAQ:OPHT) gained $0.29 (10%) to $3.09 on Thursday on news that it acquired exclusive, worldwide rights to develop and commercialize a preclinical ophthalmic gene therapy from the University of Florida Research Foundation and the University of Pennsylvania.

The deal gives the biotech an adeno-associated virus (AAV) gene therapy to treat rhodopsin (RHO; OPN2)-mediated autosomal dominant retinitis pigmentosa. The AAV is designed to knock down mutant RHO expression and deliver a functional replacement gene...