Ann: Opthea Presents Further Positive Data from OPT-302 Ph1/2A, page-2

Remarkable timing.

On the same day that further positive results from Opthea’s Phase 1/2A clinical trial of OPT-302 in wet AMD were being presented at the Annual Scientific Meeting of the American Society of Retina Specialists, US biopharma Opthotech was announcing failure of its third Phase 3 trial of anti-PDGF drug, Fovista, as combination therapy for the treatment of wet AMD.

In results that mirrored its previous failed Phase 3 trials of Fovista in combination with Lucentis, Ophthotech’s latest trial showed no benefit when Fovista was used in combination with either Eylea or Avastin.

Only last month, Novartis reworked the agreement it had struck with Ophthotech in 2014 to license Fovista. Further development of the drug was put on hold until the results of this trial were in and the period of notice which Novartis has to give to terminate the licensing agreement was cut.

Novartis licensed exclusive manufacturing and commercialization ex-US rights to Fovista in 2014 on the strength of solid Phase 2 data. As part of a total deal package worth more than $1 billion, Novartis had already paid Ophthotech $200 million upfront and a further $130 million in near term milestones for ex-US licensing rights to the drug. Novartis had been hoping that a successful combination of Fovista with Lucentis could help counter falling sales of its blockbuster drug.

Today’s announcement by Opthea highlights the market opportunity in wet AMD.

Sales of the drug Lucentis® (Roche/Novartis), which targets VEGF-A but not VEGF-C or VEGF-D, were over $US3.2BN in 2016. Sales of EYLEA® (Regeneron/Bayer), which also targets VEGF-A but not VEGF-C/-D first marketed in November 2011 for the treatment of wet AMD, were over $US5.4BN in 2016. Approximately half of the people receiving Lucentis®/EYLEA® are classified as non-responders or ‘poor’ responders and do not experience a significant gain in vision and/or have persistent retinal vascular leakage.

https://finance.yahoo.com/news/ophthotech-announces-results-third-phase-103000016.html
http://www.xconomy.com/new-york/2017/08/14/ophthotechs-final-try-at-combo-eye-drug-comes-up-short/
https://endpts.com/ophthotechs-wet-amd-drug-fovista-goes-0-for-3-in-phiii/
http://investors.ophthotech.com/releasedetail.cfm?ReleaseID=1003651
http://www.biopharmadive.com/news/novartis-ophthotech-fovista-licensing-letter-agreement/446712/
http://www.genengnews.com/gen-news-...h-and-novartis-rework-fovista-accord/81254629