Ophthotech raises $167.2m in IPO for AMD drug Fovista
This article was originally published in Scrip
In one of the largest initial public offerings this year, Ophthotech priced its IPO at $22 per share on 24 September to gross $167.2m from the sale of 7.6m shares, which will finance three Phase III clinical trials for the wet age-related macular degeneration (AMD) drug Fovista.
You may also be interested in...
Private Company Edition: Venture capital financings didn’t take a break during Thanksgiving week. In addition to the $800m Resilience raised to fund manufacturing services, SomaLogic closed a $121m series A round to fund its proteomic tools for drug discovery and diagnostics development.
Roche has partnered with Regeneron and Atea, but the company continues to leverage its long legacy in infectious diseases to identify good treatment options for the novel coronavirus.
While Amgen said the Phase III GALACTIC-HF results for omecamtiv mecarbil did not meet its high expectations for the heart failure candidate, Cytokinetics sees a path to treating certain patients.