Ophthotech will almost double its cash balance with a $200m upfront payment and $130m in near-term milestone fees under a deal worth up to $1.03bn plus royalties that gives Novartis ex-US rights to Fovista for wet age-related macular degeneration (AMD).
Ophthotech will almost double its cash balance with a $200m upfront payment and $130m in near-term milestone fees under a deal worth up to $1.03bn plus royalties that gives Novartis ex-US rights to Fovista for wet age-related macular degeneration (AMD).
New York-based Ophthotech had $290.8m in cash as of 31 March, which previously would have carried the company until 2016...
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CEO Paul Stoffels said gaining US clearance for an IND for its novel CAR-T product was demanding, but now opens up a pathway towards a pivotal study starting in 2025.
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