Iveric Bio (Formerly Ophthotech)

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.