Othera Pharmaceuticals

About Othera Pharmaceuticals

Othera Pharmaceuticals was a specialty pharmaceutical company established in 2002, concentrating on the development of novel therapeutics for age-related ophthalmic diseases. The company, founded by John Pellew, directed its efforts towards creating patient-administered treatments for significant unmet medical needs in eye care. Its primary business was the discovery and clinical development of proprietary drugs, with a business model centered on advancing these candidates through the regulatory pipeline to eventually secure partnerships or an acquisition.

The company's lead product candidate was OT-551, a topically administered eye drop designed to combat geographic atrophy (GA), an advanced and severe form of dry age-related macular degeneration (AMD). OT-551 is a lipophilic, disubstituted hydroxylamine that functions as an antioxidant, aiming to limit the oxidative damage implicated in the progression of AMD. In December 2006, Othera initiated a Phase II clinical trial for OT-551 in collaboration with the National Eye Institute. The two-year study showed that the drug was well-tolerated and suggested a possible effect in maintaining visual acuity in treated eyes compared to untreated fellow eyes. However, it did not demonstrate statistically significant benefits on other secondary measures, such as the area of geographic atrophy. The company's pipeline also included OT-440, a neuroprotectant being developed for glaucoma, and OT-730, another small molecule for the same indication.

Throughout its operation, Othera raised approximately $34 million in funding from various sources, including venture capital firms like Ben Franklin Technology Partners, Commerce Health Ventures, and Johnson & Johnson Innovation. The company's journey culminated in September 2012, when it was acquired by Colby Pharmaceutical Company. The acquisition gave Colby a significant portfolio of compounds targeting diseases related to oxidative stress.