Ophthotech Corp., a Princeton, NJ and New York-based developer of therapies for eye diseases, has closed a $30m Series B financing round.
The round was led by Clarus Ventures, with participation from existing investors SV Life Sciences, Novo A/S and HBM BioVentures.
The company is focused on developing and commercializing therapies for both wet and dry age-related macular degeneration (AMD), which is on of the main causes of blindness for people over the age of 50 in the United States and Europe.
Ophthotech will use the proceeds to fund a Phase 2 combination trial of its lead product candidate for treatment of wet AMD, E10030, and development activities for the company’s other targeted therapies for wet and dry AMD.
In conjunction with the financing, Nicholas Galakatos, Ph.D., managing director of Clarus, will join Ophthotech’s board of directors.