Pending pivotal results, Novartis and Ophthotech alter Fovista agreement

Swiss pharma giant  Novartis (NOVN: VX) and US biotech firm Ophthotech (Nasdaq: OPHT) have amended the terms of a  2014 agreement with respect to ophthalmic therapy Fovista (anti-PDGF aptamer).

The drug is being studied in combination with anti-VEGF agents for patients suffering from wet age-related macular degeneration (wet AMD).

According to a psoting on  Seeking Alpha, the new terms are a sign of a “mutual lack of confidence in a successful outcome of a Phase III clinical trial, OPH1004.” Results from the trial are expected later this year.