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Stock Market & Financial Investment News

News Breaks
January 24, 2014
07:34 EDTOPHTOphthotech receives $41.7M payment from Novo
Ophthotech announced that it has received payment of approximately $41.7M in a second tranche in royalty financing from Novo. The receipt of the second tranche has been triggered as a result of Ophthotech reaching an initial enrollment milestone of a specified number of patients in its multi-national Phase 3 clinical program of Fovista. Ophthotech initiated patient enrollment in the Phase 3 clinical program of Fovista in August 2013, and continues to expect to have initial top-line data in 2016. Novo funded the tranche in exchange for an additional royalty interest on Fovista sales. The tranche is the second of three under a $125M royalty agreement with Novo A/S. The initial funding occurred in May 2013 and a third potential funding is based upon a further patient enrollment milestone.
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April 14, 2014
17:04 EDTOPHTJHL Capital Group reports 5.3% passive stake in Ophthotech

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