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news.Roche's subsidiary Genentech has elected to exercise its right to participate in the financial arrangements related to Novartis' rights under its ex-US deal with Ophthotech for Fovista to treat wet age-related macular degeneration (wet AMD).
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Roche’s option stems from a pre-existing deal with Novartis. Ophthotech’s agreement with Novartis, which was signed in May last year, remains in effect.
Ophthotech retains exclusive rights to Fovista in the US, while Novartis owns exclusive rights outside the US.
Ophthotech is entitled to receive more than $1bn in upfront and milestone payments during the course of the collaboration.
As part of the collaboration, Novartis is planning to develop and commercialize alternative delivery technologies such as a Fovista pre-filled syringe.
Last month, Ophthotech completed patient recruitment in a Phase 3 clinical trial assessing the combination of Fovista and Roche’s Lucentis (ranibizumab) in wet AMD. Top line data is expected to be available in the fourth quarter of 2016.
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."
Ophthotech is also developing Zimura, an inhibitor of complement factor C5, to treat geographic atrophy, a form of dry AMD.
Image: Building 32, one of the newest buildings on Genentech’s sprawling headquarters campus in South San Francisco. Photo: courtesy of Coolcaesar at en.wikipedia.