Big pharma, Partnering, Pharma

Novartis enters into licensing deal with Ophthotech

Posted on 27 May 2014

Tags: , , ,

Novartis has acquired from Ophthotech exclusive rights to market the eye drug candidate Fovista outside the U.S., while retaining U.S. marketing rights, under a licensing deal and commercialization agreement that could net Opthotech more than $1 billion.

Novartis agreed to pay Ophthotech $200 million upfront, and $130 million in payments tied to Phase III patient enrollment milestones.

In addition, Ophthotech is eligible to receive up to $300 million contingent on winning future marketing approval milestones outside the U.S., and up to $400 million tied to sales milestones outside the U.S. million.

Ophthotech is entitled to royalties on ex-US sales of Fovista.

Fovista is an anti-PDGF aptamer now under study in combination with anti-VEGF agents for patients suffering from wet age-related macular degeneration (wet AMD).

Fovista offers a new mechanism of action designed to further improve visual acuity and potentially slow disease progression.

Novartis will seek to develop and commercialize alternative delivery technologies for Fovista, such as a prefilled syringe, and will also develop a co-formulation of Fovista with one of its undisclosed anti-VEGF compounds.

For further deal information visit Current Agreements (subscription required)


Browse: Complete Current Partnering report catalog

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