Ophthotech, Novartis deal
Ophthotech received a $50 million payment from Novartis under a May deal granting the pharma exclusive, ex-U.S. rights to develop and commercialize Fovista. The milestone was triggered by the enrollment of an undisclosed number of patients in three double-blind, sham-controlled, international Phase III trials evaluating intravitreal injections of 1.5 mg Fovista in newly diagnosed wet AMD patients (see BioCentury, May 26).
The milestone is the first of a total of $130 million in enrollment milestones under the deal. Two trials are comparing Fovista following intravitreal injections of 0.5 mg Lucentis ranibizumab vs. Lucentis alone; and the third trial is comparing Fovista following intravitreal injections of 2 mg Eylea aflibercept or 1.25 mg Avastin bevacizumab vs. Eylea and Avastin alone. Each trial was expected to enroll about 622 patients. ...