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Iconic, Novartis sign ophthalmology option agreement
Iconic Therapeutics has signed an agreement with Novartis that will give Novartis an option on Iconic’s ophthalmology program, according to a press release.
Iconic is evaluating ICON-4, an anti-tissue factor monoclonal antibody, as a potential therapeutic for age-related macular degeneration, the release said, with clinical trials possibly beginning next year.
“Iconic Therapeutics is pursuing an innovative approach to targeting tissue factor, a promising target with early clinical validation and potential applicability in a broad range of diseases, including retinal disease and cancer,” Iconic CEO William L. Greene, MD, said in the release. “While current AMD therapies have improved visual acuity for patients, they do not stop the inexorable progression of the disease. We believe that addressing tissue factor overexpression in macular degeneration may modify the course of AMD, improving both durability and efficacy. Our preclinical work gives us confidence that we can address this opportunity, avoid historical challenges of targeting tissue factor and thereby be the first disease-modifying agent for AMD.”
The agreement includes an upfront payment from Novartis with an equity investment in Iconic, but further details of the deal were not disclosed.