Ophthotech Corp. has acquired Inception 4 Inc. and its small molecule inhibitors of HtrA1, which are under development for the treatment of a range of retinal diseases, the company announced in a press release.
Ophthotech obtained $6.1 million in cash through the acquisition of Inception 4, which is backed by Versant Ventures. In addition, Ophthotech agreed to issue approximately 5.2 million shares of Inception 4, and Versant Ventures will own approximately 12.5% of Ophthotech’s outstanding common stock shares.
“We are thrilled to welcome Versant Ventures as a major shareholder through our acquisition of Inception 4,” Ophthotech CEO Glenn P. Sblendorio said. “This HtrA1 inhibitor program aligns with our commitment to further build upon Ophthotech’s strategy to develop novel therapeutics and gene therapy treatments for retinal diseases.”
A correlation has been demonstrated between HtrA1 (high temperature requirement A serine peptidase 1 protein) and a risk for dry age-related macular degeneration in genetic linkage studies, according to the release.