Ophthotech gains commericial rights to AMD antibody

Ophthotech, Biogen and PDL BioPharma have entered into an exclusive worldwide licensing agreement for an anti-angiogenesis antibody to treat age-related macular degeneration (AMD).

Under the terms of the agreement, Biogen and PDL have granted Ophthotech worldwide development and commercial rights to all ophthalmic uses of volociximab, an investigational monoclonal antibody targeting (alpha)5(beta)1 integrin, a key protein involved in the formation of blood vessels.

Biogen and PDL will each receive an equity position in Ophthotech as well as a combination of development milestone payments and royalties on future product sales.