Biotech, Financing

Ophthotech in $175 million Royalty and series C financing deal

Posted on 31 May 2013

Tags: , ,

Ophthotech, biotech company, announced that it has raised $175 million in royalty and series C financing for a global Phase III clinical program.

The phase III trial is of its lead compound Fovista, an anti-platelet-derived growth factor, in combination with anti-VEGF therapy for the treatment of neovascular age-related macular degeneration and will be funded by the royalty and series C financing. 

The multi-national Phase III trial is expected to begin in the third quarter of 2013 and enroll nearly 1,900 patients in more than 200 centers worldwide.

The royalty and series C financing of $175 million consists of $125 million from Novo A/S, in exchange for royalties on Fovista sales.

The remaining $50 million is in the form of a Series C financing of preferred stock from Novo A/S and current venture investors in Ophthotech.

The royalty and Series C financing is structured in three equal tranches, the first of which has closed.


View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value

View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making

View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity

View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter - reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

Print Friendly, PDF & Email

Leave a Reply