Iveric Bio (Formerly Ophthotech)
A science-driven biopharmaceutical company specializing in the development of novel therapies to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases.
| Date | Investors | Amount | Round |
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| - | investor investor | €0.0 | round |
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| N/A | €0.0 | round | |
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* | $5.9b Valuation: $5.9b 28.1x EV/Revenue -31.1x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| USD | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | - | - | (98 %) | 5149 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | 53 % | (31 %) | (29 %) | (2215 %) | (55 %) | (90 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | 54 % | 30 % | (28 %) | (2114 %) | (55 %) | (88 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | - | 32 % | 20 % | 19 % | 1570 % | 41 % | 56 % |
Source: Company filings or news article
Related Content
Iveric Bio, an Astellas company, operates as a science-driven biopharmaceutical firm with a clear focus on the discovery and development of novel treatments for retinal diseases, particularly those with significant unmet medical needs. The company was co-founded in 2007 by David R. Guyer, M.D., and Samir C. Patel, M.D., under the name Ophthotech Corporation. Dr. Guyer, a seasoned ophthalmologist and retinal surgeon, brought extensive experience from co-founding and leading Eyetech Pharmaceuticals. Dr. Patel also contributed a strong background as a retina specialist. The company's journey began with a commitment to addressing age-related macular degeneration (AMD) and other back-of-the-eye disorders.
A pivotal moment in the company's history was its strategic shift and subsequent rebranding to Iveric Bio in April 2019. This change reflected a refined focus on its gene therapy pipeline and programs targeting retinal diseases beyond just wet AMD. The company's primary asset is IZERVAY™ (avacincaptad pegol), a complement C5 inhibitor. This therapeutic is specifically designed for the treatment of geographic atrophy (GA), an advanced and severe form of age-related macular degeneration that can lead to irreversible vision loss. IZERVAY is administered via intravitreal injection and works by targeting the C5 protein, a key component of the complement cascade believed to be involved in the inflammation and cell death characteristic of GA development and progression.
The business model centers on the research, clinical development, and eventual commercialization of its therapeutic candidates. Revenue generation is anticipated from the sales of approved products like IZERVAY. The target market encompasses patients suffering from geographic atrophy and other retinal conditions, with the primary customers being ophthalmologists and retinal specialists who diagnose and treat these diseases. In July 2023, Iveric Bio was acquired by Astellas Pharma for approximately $5.9 billion, a significant milestone that provides substantial resources to support the global commercialization of IZERVAY and further advance its research and development pipeline.
Keywords: geographic atrophy, retinal diseases, ophthalmology, biopharmaceutical, C5 inhibitor, IZERVAY, avacincaptad pegol, macular degeneration, gene therapy, Astellas