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Ophthotech rebrands as Iveric bio

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Ophthotech is changing its name to Iveric Bio and will focus on developing novel gene therapy solutions for orphan inherited retinal diseases, according to a press release.

“We are excited about our rebranding and corporate name change reflecting our transition to a gene therapy-focused company developing treatments for patients with orphan inherited retinal diseases,” Glenn P. Sblendorio, CEO and president of Iveric bio, said in the release. “We are executing a strategy that leverages our retinal expertise and provides a clear path forward with multiple orphan IRD gene therapy programs.”

The company’s therapeutic programs are continuing, with clinical data expected by the end of this year and in 2020. If the data are positive, the company may seek partnership opportunities for further development, the release said.

The company will trade under the new ticker symbol ISEE on the Nasdaq Global Select Market as of April 17.