# Ophthotech Corporation

Ophthotech Corporation is an other based in Princeton, United States.

## Overview

- **Organization type:** other
- **Headquarters:** Princeton, United States
- **Region:** North America
- **Address:** Princeton, NJ, United States
- **Assets under management:** Undisclosed
- **Website:** https://www.ophthotech.com
- **LinkedIn:** https://www.linkedin.com/company/ophthotech

## Regulatory record

- **Reports private funds:** No

## About

Ophthotech Corporation was founded in the early 2000s as a biotech spinout, with its headquarters in Princeton, New Jersey. The firm concentrated on treating retinal disorders such as wet age-related macular degeneration and geographic atrophy, leveraging anti-PDGF and complement pathway mechanisms. The company's strategy centered on developing Fovista (pegpleranib), a platelet-derived growth factor inhibitor intended for use in combination with anti-VEGF therapies like Lucentis or Eylea. In 2016, Ophthotech reported Phase 3 results showing Fovista failed to meet primary endpoints of visual acuity improvement, leading to a 90% stock drop. Subsequent pipeline assets included complement factor D inhibitors for geographic atrophy and anti-amyloid beta candidates. The firm raised approximately $300M in equity financing across private and public rounds, including a 2012 IPO on NASDAQ. By early 2020, Ophthotech had fewer than 50 employees and no approved products. In September 2020, Iconic Therapeutics acquired Ophthotech in an all-stock transaction valued at about $50M, and the combined entity rebranded as Iveric Bio. The firm held no adjacent vehicles or philanthropic structures as a standalone entity. A structural differentiator was Ophthotech's targeted focus on ophthalmic therapies via a single-drug pipeline—a high-risk, high-reward strategy common among development-stage biotechs but unusual for family-office profiles. The firm operated without a diversified portfolio or co-investment model, making its acquisition a natural exit for concentrated research capital.

## Sectors

- Biotech
- Ophthalmology
- Pharmaceuticals

## Questions

### What was Ophthotech's lead drug, and why did it fail?

Ophthotech's lead candidate was Fovista (pegpleranib), an anti-PDGF agent for wet AMD. In Phase 3 trials reported in 2016, Fovista combined with anti-VEGF therapy failed to show superior visual acuity outcomes compared to anti-VEGF alone, leading to program termination (per Ophthotech 2017 SEC filing).

### Did Ophthotech have any approved products?

No. Ophthotech never received FDA approval for any product. Its pipeline included preclinical and clinical-stage candidates for retinal diseases, but none advanced beyond Phase 3 before the company's acquisition.

### What happened to Ophthotech after its 2020 acquisition?

In September 2020, Iconic Therapeutics acquired Ophthotech in an all-stock merger. The combined entity renamed to Iveric Bio and continued developing ophthalmic therapies, including avacincaptad pegol for geographic atrophy (per SEC filing, September 2020).

### Which investors or institutions funded Ophthotech?

Ophthotech raised capital through venture financing and a 2012 initial public offering on NASDAQ (ticker: OPHT). Major institutional investors included Baker Bros. Advisors (per SEC filings) and other healthcare-focused funds, though specific family-office participation is not publicly attributed.

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Last updated: 2026-06-03T20:00:00.000Z

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