Opthea Secures up to $170 M in Non-Dilutive Financing for OPT-302 in wet AMD

 

• Carlyle and its life sciences franchise Abingworth, working with their recently formed development company Launch Therapeutics (Launch Tx), to provide non-dilutive financing of up to US$170M, consisting of a US$120M commitment and an option to increase funding by a further US$50M
• If OPT-302 is approved in a major market, Carlyle and Abingworth will be eligible to receive fixed success payments and variable success payments of 7% on annual net sales, which terminate after reaching four times the funded amount
• In addition, Opthea has received commitments for US$90M¹ (A$128.57M) via a private institutional equity placement for new shares and launched an A$5M Share Purchase Plan (SPP)
• Opthea is expected to be fully funded through pivotal Phase 3 topline data and pre-commercial activities and retains full worldwide commercial rights to OPT-302
• Financing decision driven by the potential of superior visual outcomes demonstrated in Phase 2b unlike competitors who focus on extended dosing

https://www.biospace.com/article/releases/opthea-secures-up-to-us-170-million-in-non-dilutive-financing-for-opt-302-in-wet-amd/