Opthea, an Austrialian Phase 3 biotech developing therapies for wet AMD, filed on Thursday with the SEC to raise up to $150 million in an initial public offering.
The South Yarra, Australia-based company is currently developing a novel therapy for the treatment of highly prevalent and progressive retinal diseases. Its sole clinical candidate, OPT-302, is a biologic designed to inhibit VEGF-C and VEGF-D, to complement VEGF-A inhibitors for the treatment of ophthalmic diseases. The company intends to initiate two pivotal Phase 3 trials for wet AMD in the 1H21, with topline data expected in 2023.
Opthea was founded in 1984 and plans to list on the Nasdaq under the symbol OPT. Citi and SVB Leerink are the joint bookrunners on the deal. No pricing terms were disclosed.
