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Ophthotech brings in $50mm through Series C round

Executive Summary

Ophthalmic drug developer Ophthotech Corp. raised $50mm through the sale of Series C preferred stock to Novo AS and fellow current shareholders SV Life Sciences, Clarus Ventures, and HBM BioVentures. Concurrent with the financing Ophthotech also raised $125mm by selling future Fovista (formerly E10030)sales royalties to Novo. The drug candidate is an anti-platelet-derived growth factor that is administered in combination with anti-VEGF to treat neovascular age-related macular degeneration. Money from both financings will be used for Phase III trials of Fovista.
Deal Industry
  • Biotechnology
    • Large Molecule
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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