NEW YORK--(BUSINESS WIRE)--Ophthotech Corporation (Nasdaq:OPHT) today announced that it has achieved a second $50 million enrollment milestone from Novartis Pharma AG as part of the ex-US licensing and commercialization agreement between the two companies focused on the treatment of wet age-related macular degeneration (AMD). This second enrollment milestone from Novartis was triggered as a result of Ophthotech reaching the second enrollment goal under the agreement in its pivotal, multi-national Fovista® Phase 3 clinical program. To date, Ophthotech has attained $300 million in upfront fees and milestone payments. These amounts consist of a $200 million upfront fee upon the execution of the agreement in May of last year and $100 million of $130 million in potential enrollment-based milestones under the agreement. Fovista®, Ophthotech’s anti-platelet-derived growth factor (PDGF) compound, is being studied in combination with anti-vascular endothelial growth factor (VEGF) therapy for the treatment of wet AMD.
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