Ophthotech Corporation Announces That Genentech, A Roche Wholly-Owned Subsidiary, Elects To Exercise Its Right To Opt-In To The Novartis Portion Of The Ophthotech / Novartis AG Ex-US Agreement For Fovista® To Treat Wet Age-Related Macular Degeneration

NEW YORK--(BUSINESS WIRE)--Ophthotech Corporation (Nasdaq:OPHT) announced today that Genentech, a Roche wholly-owned subsidiary, has elected to exercise its option to participate in the financial arrangements relating to Novartis’ rights under the Ophthotech/Novartis ex-US agreement for Fovista® (pegpleranib) to treat wet age-related macular degeneration (AMD). Roche’s option originates from a pre-existing agreement between Roche and Novartis. Ophthotech’s agreement with Novartis and its financial terms remain unchanged including potential payments to Ophthotech of over $1 billion in upfront and milestone payments, and future royalties on ex-US Fovista® sales. Ophthotech continues to retain sole rights to Fovista® in the United States.

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