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Ophthotech Corporation aims to raise over $100M in IPO on NASDAQ

Ophthotech Corporation (Princeton, New Jersey) has announced that is has filed its intention with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its common stock on the US NASDAQ. A prospectus, dated September 9th, 2013, indicates the company hopes to sell 5,720,000 common shares at a target price somewhere between $16 and $19 per share, raising an estimated $100M. Founded in 2007 by David Guyer and Samir Patel, former executives at Eyetech Pharmaceuticals, the company, with only 22 full-time staff, is betting on a positive Phase 3 outcome to its lead wet-AMD drug, “Fovista”, for use in combination with other anti-VEGF therapies.