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Ophthotech reaches $50 million enrollment milestone goal for Fovista phase 3 trial

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Ophthotech has achieved a second $50 million enrollment milestone goal for Fovista under its ex-U.S. licensing and commercialization agreement with Novartis, according to a press release.

Fovista, an anti-PDGF compound, is being combined with anti-VEGF therapy for the treatment of wet age-related macular degeneration in a phase 3 clinical program.

Ophthotech has received $300 million in upfront fees and milestone payments, the release said.

Under the agreement, Ophthotech granted Novartis exclusive rights to commercialize Fovista in markets outside of the U.S. while retaining sole rights to commercialize in the U.S. In addition, Ophthotech can receive royalties on ex-U.S. Fovista sales and may be eligible to receive contingent future ex-U.S. marketing approval milestones, the release said.