On May 19, 2014, WilmerHale client Ophthotech Corporation announced that the company had entered into an ex-US licensing and commercialization agreement with Novartis Pharmaceuticals focused on the treatment of wet age-related macular degeneration (AMD). Under the agreement, Ophthotech grants Novartis exclusive rights to commercialize Ophthotech's lead product candidate, Fovista®, in markets outside the United States while Ophthotech retains sole rights to commercialize Fovista in the United States. Potential payments to Ophthotech under the agreement could total more than one billion dollars in upfront and milestone payments, not including future royalties.
WilmerHale represented Ophthotech in connection with the transaction. Technology Transactions and Licensing Partner Steven Barrett and Special Counsel Jerry Marr; Corporate Partners David Redlick and Brian Johnson; Corporate Counsel Todd Anderman; and Antitrust and Competition Partners Hartmut Schneider and Frédéric Louis advised Ophthotech.
View the full release on Ophthotech's site.