Avalanche Biotechnologies, months removed from a costly Phase II dud, is calling off plans for further study of its lead gene therapy candidate, heading back to the lab to regroup before trying another clinical trial.
Gene therapy developer Avalanche Biotechnologies watched its value plummet after posting some discouraging Phase IIa results for its lead candidate, a treatment for the vision-destroying wet age-related macular degeneration.
Partners Regeneron and Bayer are hoping to piggy-back on their success with the wet age-related macular degeneration blockbuster Eylea, reuniting to develop a new drug that could become part of a combination therapy for the disease.
Investigators say that lampalizumab slowed progression of AMD in patients with advanced disease, shrinking the area of geographic atrophy by 20.4%. AMD is a leading cause of blindness and major market opportunity for the drug giant, which has executed a sequence of big advances in R&D.
After assembling a whopping $175 million financing deal this spring, Ophthotech has filed paperwork with the SEC to secure up to $85 million more in an initial public offering.
For the first time, scientists have successfully transplanted light-detecting cells in the retina, grown from embryonic stem cells, into mice--a feat that could eventually lead to new treatments for blindness in humans.
Japanese researchers have won permission to embark on a pioneering clinical study of a stem cell therapy for age-related macular degeneration, a major cause of vision loss in aging patients. The planned trial is being hailed as the first human test of a stem cell therapy made from patient's own cells.
New York-based Ophthotech has rounded up a whopping $175 million in financing to cover a pivotal late-stage study of its lead drug for wet AMD. The biotech signed a deal to share its royalties on Fovista--earlier dubbed E10030--with Novo A/S in exchange for $125 million. And Novo stepped up to lead a $50 million Series C round for the company.
The new CEO at Kala Pharmaceuticals has landed an $11.5 million A round and mapped out plans to devote much of the cash to lead programs on wet, age-related macular degeneration and ocular inflammation.
Building on a $420 million deal it already has in place with Switzerland's Molecular Partners, Allergan has come back to the bargaining table to deepen its pipeline for ophthalmic drugs. Allergan paid $62.5 million upfront and promised up to $1.4 billion dollars in milestones in the ambitious deal, which covers a pair of R&D pacts.