Ophthotech closes $30 million in funding to support phase 2 trial of AMD treatment

NEW YORK — Ophthotech has received $30 million in Series B financing to support a phase 2 combination trial of E10030, the company's lead product candidate for treating age-related macular degeneration, the company announced.

In a phase 1 combination study, E10030, an anti-platelet-derived growth factor (PDGF) aptamer, demonstrated effectiveness when combined with anti-VEGF agents, according to a press release from the company.

Specifically, 59% of patients who received a combination of E10030 and Lucentis (ranibizumab, Genentech) gained three lines of visual acuity at 12 weeks after therapy. All patients experienced neovascular regression with no drug-related adverse events, the release said.

"In its phase 1 combination therapy trial, E10030, which targets PDGF, has demonstrated unprecedented visual gain in patients with wet AMD," Samir Patel, MD, president and CEO of Ophthotech, said in the release. "This remarkable visual outcome was accompanied for the first time by robust neovascular regression, reflecting the disruption of underlying pathology. E10030 has the potential of becoming a new standard for wet AMD treatment."

Ophthotech also plans to pursue multiple therapeutic agents to develop as next-generation treatments for wet and dry AMD.