Ophthotech, Novo deal

Ophthotech received a second $41.7 million tranche from Novo under a 2013 deal granting Novo low- to mid-single digit royalties on sales of Fovista. The payment was triggered by Ophthotech reaching an initial enrollment milestone of an undisclosed number of patients in a Phase III trial of Fovista, which is being studied in combination with anti-VEGF therapy to treat age-related macular degeneration (AMD). Ophthotech began the trial in August and expects top-line data in 2016. Fovista is a pegylated aptamer against platelet derived growth factor B ( PDGFB; PDGF2). Under the deal, Ophthotech received an initial $41.7 million tranche at signing and is eligible for a third tranche based on a further enrollment milestone of an undisclosed number of patients (see BioCentury, June 3, 2013). ...