Ophthotech Raises $175 Mln

Ophthotech Corp. has raised $175 million in financing. This includes $125 million from Novo A/S, in exchange for royalties on Fovista sales. The remaining $50 million is in the form of a Series C preferred stock financing from Novo A/S and current venture investors in Ophthotech. New York-based Ophthotech is a biopharmaceutical company.

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