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Novo backs AMD drug
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Novo backs AMD drug

30.05.2013 - Danish Novo A/S has secured royalties on an upcoming competitor treatment to the age-related macular degeneration drug Lucentis.

In total, the Danish injected US$175m to push Phase III development of Ophtotec’s AMD drug Fovista (E10030). The company led a US$50m Series C financing and secured a share on future royalties with the anti-PDGF pegylated aptamer in exchange for US$125m.

In Phase IIb studies, dosing 449 patients with wet AMD with 6 monthly injections of Fovista plus Lucentis in the eye led to an 62% improvement of vision compared to Lucentis monotherapy after 6 months. Last year Roche’s VEGF-targeting angiogenesis blocker, which is distributed in Europe by Novartis, made more that 1.5bn in sales.

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http://www.european-biotechnology-news.com/news/news/2013-02/novo-backs-amd-drug.html

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