Roche subsidiary Genentech has exercised its right to participate in the financial arrangements relating to Novartis‘s rights in its deal with Ophthotech for Fovista (pegpleranib), designed to treat wet age-related macular degeneration (wet AMD).
The option stems from a pre-existing deal between Roche and Novartis.
Go deeper with GlobalData
According to Ophthotech, its agreement with Novartis signed in May last year remains in effect. Currently, Ophthotech retains exclusive rights to Fovista in the US, while Novartis owns exclusive rights of the product outside the country.
During the course of collaboration, Ophthotech is also entitled to receive more than $1bn in upfront and milestone payments.
Under the deal, Novartis is planning to develop and commercialise alternative delivery technologies such as a Fovista pre-filled syringe.
See Also:
In October, Ophthotech completed patient recruitment in a Phase III clinical trial designed to evaluate the combination of Fovista and Roche’s Lucentis (ranibizumab) in wet AMD.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataTop line data from this trial is expected to be available in the fourth quarter of next year.
Ophthotech CEO and chairman of the board David Guyer said: "We believe that this arrangement further validates Fovista’s novel technology, reflects the industry’s need for the next-generation therapeutic option for wet AMD, and also highlights the industry’s acknowledgement of the large commercial opportunity resulting from the significant unmet need in the large and expanding market for wet AMD.
"Our Fovista ex-US agreement with Novartis remains unchanged. We continue to be very impressed with the extensive resources and tremendous commitment that Novartis is putting into the Fovista programme.
"Additionally, we are excited about the recent completion of patient recruitment in two of the Phase III trials of Fovista."
Ophthotech is also developing Zimura, an inhibitor of complement factor C5, for the treatment of geographic atrophy, a form of dry AMD.
A third Phase III trial evaluating Fovista in combination with other anti-VEGF agents continues to enroll patients with recruitment on track.
