Novartis announces exclusive agreement to extend leadership in ophthalmology, leveraging novel anti-PGDF therapy Fovista

Novartis acquires exclusive ex-US rights to Fovista from Ophthotech; upfront payment of USD 200 million plus potential future recruitment and other milestone payments; additionally Ophthotech to receive royalties on ex-US Fovista sales. Fovista is the most advanced anti-PDGF technology in development, and if approved, is expected to be first to market in this class of therapies for wet AMD Novartis to commercialize Fovista outside the US as stand-alone treatment and as a co-formulation with a Novartis proprietary anti-VEGF product - Basel, May 19, 2014 - Novartis announced today the signing of a licensing and commercialization agreement with Ophthotech Corporation (Ophthotech) for the exclusive rights to market Fovista (anti-PDGF aptamer) outside the United States. Under the financial terms of the agreement, Ophthotech will receive an immediate payment of an upfront fee of USD 200 million plus potential future recruitment and other milestone payments. In addition, Ophthotech is eligible to receive royalties on ex-US Fovista sales. Fovista is being studied in combination with anti-VEGF agents for patients suffering from wet age-related macular degeneration (wet AMD). Novartis will also develop a co-formulation of Fovista with a Novartis proprietary anti-VEGF treatment. Ophthotech will hold the marketing rights to Fovista in the United States.