12:00 AM
Aug 13, 2007
 |  BioCentury  |  Strategy

Eyetech duo not done

Ophthotech Corp. was to announce a $36 million series A round and the in-licensing of its second compound for age-related macular degeneration on Monday this week. The newco is no stranger to the AMD space, as its first compounds and its management team have their origins at Eyetech Pharmaceuticals Inc.

For those with short memories, Eyetech was the bellwether biotech IPO of 2004. The company's Macugen pegaptanib, which had completed Phase II/III testing for AMD, helped it go public at $19 that January with a post-money valuation of $808.5 million.

Macugen, a pegylated aptamer that binds VEGF 165,...

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