Fovista

Drug Overview

Fovista (pegpleranib; Ophthotech/Novartis) is a PEGylated aptamer targeting platelet-derived growth factor (PDGF). The drug is designed to be used in combination with a vascular endothelial growth factor (VEGF) inhibitor against the neovasculature associated with wet age-related macular degeneration. By preventing PDGF from binding to pericytes, Fovista exposes the vasculature and allows the anti-angiogenic effects of VEGF inhibitors to act on the entirety of the neovascular region instead of just the vessel tips.

Currently in Phase III trials, Fovista was developed by Ophthotech, which was founded in 2007. Although it is a relatively new company, Ophthotech raised $175m to finance pivotal late-stage trials of Fovista. $125m of the investment came from Novo A/S, which will in return receive royalties on future sales of Fovista. In May 2014, Ophthotech and Novartis reached an agreement giving Novartis the rights to commercialize Fovista outside of the US in exchange for a potential $1.0bn in upfront and milestone payments plus future royalties.

Analyst Outlook

As the furthest platelet-derived growth factor (PDGF)-targeted therapy in development, Fovista (pegpleranib; Ophthotech/Novartis) has the potential to transform current standards in wet age-related macular degeneration (AMD) treatment. When used in combination with vascular endothelial growth factor (VEGF) inhibitors, Fovista has been shown to increase the average number of letters gained in visual acuity. Furthermore, the inclusion of Fovista in treatment is hypothesized to allow VEGF inhibitors to induce regression of neovascularization while reducing their long-term side effects. Although the drug has shown large potential thus far in clinical trials, results of Phase III studies and the pricing strategy chosen for Fovista will determine its trajectory in the wet AMD market.