Part-way financing

Ophthotech Corp. did two deals last week that could bring in $175 million, but the biotech expects it still will need additional capital to complete a Phase III trial of Fovista for wet age-related macular degeneration.

The company raised $16.7 million in the first tranche of a $50 million series C round from existing investors Novo A/S; SV Life Sciences; Clarus Ventures; and HBM Partners...