Novartis, Ophthotech Sign $200 Million Pact for Eye Drug FovistaBy
Novartis has signed a licensing and commercialization agreement with Ophthotech Corporation for the exclusive rights to market Fovista, an anti-platelet-derived growth factor (PDGF) aptamer. outside the United States. Under the agreement, Ophthotech will receive an immediate payment of an upfront fee of $200 million plus potential future recruitment and other milestone payments. In addition, Ophthotech is eligible to receive royalties on ex-US Fovista sales
Fovista is being studied in combination with anti-vascular endothelial growth factor (VEGF) agents for patients suffering from wet age-related macular degeneration (wet AMD). Novartis will also develop a co-formulation of Fovista with a Novartis proprietary anti-VEGF treatment. Ophthotech will hold the marketing rights to Fovista in the United States. Novartis expects to develop Fovista and the co-formulation in its proprietary, innovative pre-filled syringe as part of this agreement.
Fovista offers a new mechanism of action to address unmet need to further improve visual acuity and potentially slow disease progression. Fovista is designed to PDGF, and in combination with anti-VEGF drugs, disrupt the formation of abnormal new blood vessels in wet AMD. In Phase II clinical studies, the combination therapy of Fovista and Lucentis (ranibizumab) improved baseline visual acuity in wet AMD patients. Lucentis was developed by Genentech and Novartis. Genentech has the commercial rights to Lucentis in the United States. Novartis has exclusive rights in the rest of the world.
Source: Novartis and Ophthotech