Ophthotech Corporation Receives $41.7 Million in Second Tranche in Royalty Financing from Novo A/S

  Ophthotech Corporation Receives $41.7 Million in Second Tranche in Royalty
  Financing from Novo A/S

Business Wire

NEW YORK -- January 24, 2014

Ophthotech Corporation (Nasdaq:OPHT) today announced that it has received
payment of approximately $41.7 million in a second tranche in royalty
financing from Novo A/S. 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 pivotal, multi-national Phase 3 clinical
program of Fovista™, Ophthotech’s anti-platelet-derived growth factor (PDGF)
compound that is being studied in combination with anti-vascular endothelial
growth factor (VEGF) therapy for the treatment of neovascular age-related
macular degeneration (wet AMD). Ophthotech initiated patient enrollment in the
pivotal Phase 3 clinical program of Fovista in August 2013, and continues to
expect to have initial top-line data in 2016.

Novo A/S funded the tranche in exchange for an additional royalty interest on
Fovista sales. The tranche is the second of three under a $125 million 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.

About Ophthotech

Ophthotech is a biopharmaceutical company specializing in the development of
novel therapeutics to treat diseases of the eye, with a focus on developing
therapies for age-related macular degeneration. The company has initiated a
pivotal Phase 3 clinical program for its most advanced product candidate,
Fovista™ anti-PDGF therapy, which it is developing for use in combination with
anti-VEGF drugs that represent the standard of care for the treatment of wet
age-related macular degeneration. For more information, please visit
www.ophthotech.com.

About Novo A/S

Novo A/S is a Danish limited liability company fully owned by the Novo Nordisk
Foundation and is the holding company in the Novo Group responsible for
managing the Foundation’s assets, which are currently valued at more than USD
30 billion. Besides being the major shareholder in Novo Nordisk A/S and
Novozymes A/S, Novo A/S provides seed and venture capital to development stage
companies and takes significant ownership positions in well-established
companies within life sciences, as well as manages a broad portfolio of
financial assets. For more information, please visit www.novo.dk.

Forward-Looking Statements

Any statements in this press release about Ophthotech’s future expectations,
plans and prospects constitute forward-looking statements for purposes of the
safe harbor provisions under the Private Securities Litigation Reform Act of
1995. Forward-looking statements include any statements about Ophthotech’s
strategy, future operations and future expectations and plans and prospects
for Ophthotech, and any other statements containing the words “anticipate,”
“believe,” “estimate,” expect,” intend,” “may,’ “might,” “plan,” “predict,”
“project,” “target,” “potential,” “will,” “would,” “could,” “should,”
“continue,” and similar expressions. In this press release, Ophthotech’s
forward looking statements include statements about the conduct of the Fovista
Phase 3 clinical program including obtaining initial, top-line data from the
Fovista Phase 3 clinical program. Such forward-looking statements involve
substantial risks and uncertainties that could cause Ophthotech’s clinical
development programs, future results, performance or achievements to differ
significantly from those express or implied by the forward-looking statements.
Such risks and uncertainties include, among others, those related to the
initiation and conduct of clinical trials, availability of data from clinical
trials and expectations for regulatory approvals or other actions and other
factors discussed in the “Risk Factors” section contained in the quarterly and
annual reports that Ophthotech files with the SEC. Any forward-looking
statements represent Ophthotech’s views only as of the date of this press
release. Ophthotech anticipates that subsequent events and developments will
cause its views to change. While Ophthotech may elect to update these
forward-looking statements at some point in the future, Ophthotech
specifically disclaims any obligation to do so.

Contact:

Investors
Ophthotech Corporation
Kathy Galante, 212-845-8231
Vice President,Investor Relations and Corporate Communications
kathy.galante@ophthotech.com
or
Media
SmithSolve LLC on behalf of Ophthotech Corporation
Jarrod Aldom, 973-442-1555 ext. 112
jarrod.aldom@smithsolve.com
 
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