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Ophthotech enters licensing and development agreement for potential AMD treatment

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PRINCETON, N.J. — Ophthotech Corp., Biogen Idec and PDL BioPharma have entered into an exclusive worldwide development and licensing agreement for volociximab, an investigational monoclonal antibody targeting alpha-5ß1 integrin being investigated as a treatment for age-related macular degeneration, according to a joint press release from the companies.

Under the terms of the agreement, Ophthotech will maintain worldwide development and commercial rights to all ophthalmic uses of volociximab (M200). Biogen Idec and PDL BioPharma will each receive shares of Ophthotech equity, as well as a combination of development milestone payments and a percentage of future royalties, the release said.

Specific terms of the agreement were not disclosed.