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Ophthotech brings in $50mm through Series C round
29 Oct 2013
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
- Pharmaceuticals
-
Biotechnology
- Large Molecule
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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Ophthotech brings in $50mm through Series C round
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