Iconic Therapeutics announced that the company has signed an agreement with Novartis in which Novartis will have an option on Iconic’s ophthalmology program, now in preclinical development. Novartis made an upfront payment and an equity investment in Iconic. The details of investment were not disclosed.
Iconic is evaluating its anti-Tissue Factor monoclonal antibody ICON-4 as a potential therapeutic for AMD, aiming to begin clinical trials in 2020.
“Iconic Therapeutics is pursuing an innovative approach to targeting Tissue Factor, a promising target with early clinical validation and potential applicability in a broad range of diseases, including retinal disease and cancer,” Dr. William Greene, Chief Executive Officer, Iconic, said in a company news release. “While current AMD therapies have improved visual acuity for patients, they do not stop the inexorable progression of the disease. We believe that addressing Tissue Factor overexpression in macular degeneration may modify the course of AMD, improving both durability and efficacy. Our preclinical work gives us confidence that we can address this opportunity, avoid historical challenges of targeting Tissue Factor, and thereby be the first disease-modifying agent for AMD.”