Ophthotech wins a $50M milestone from Novartis

Ophthotech ($OPHT) says it won a $50 million enrollment milestone from Novartis ($NVS) for reaching a goal on its Phase III Fovista study for wet, age-related macular degeneration. The biotech says this is part of $130 million in total enrollment-based milestones it stands to win. Novartis inked the $1 billion-plus deal back in May, gaining ex-U.S. rights to market the treatment. A total of $330 million of that is available in near-term milestones and the upfront payment. Release