IVERIC bio, Inc. Overview
Pro stress-test →IVERIC bio, Inc. is a biopharmaceutical company dedicated to the development of innovative therapeutics for diseases affecting the back of the eye, with primary focus on age-related macular degeneration (AMD), a significant cause of vision loss among older adults. The company was acquired by Astellas Pharma Inc. on July 11, 2023 for approximately $5.9 billion.
Strategic Profile
Pro stress-test →The company's notable project includes the development of Avacincaptad Pegol, aimed at treating Geographic Atrophy secondary to AMD, a condition that leads to irreversible blindness. The acquisition combines IVERIC bio's expertise in ophthalmology with Astellas' global resources, enhancing their ability to develop and commercialize treatments for retinal diseases.
Competitive Landscape
Pro stress-test →IVERIC bio competes in the age-related macular degeneration and geographic atrophy therapeutic space against companies like Regeneron (Eylea market leader), Novartis, Roche, and emerging players in novel AMD therapies. The acquisition by Astellas positions IVERIC's therapies within a larger integrated ophthalmology portfolio alongside established competitors.
Industry Context
IVERIC bio, Inc. operates in Ophthalmology therapeutics - Age-related macular degeneration.
Key facts
Founded: 2007 · Headquarters: Hackensack, US · Employees: Integrated into Astellas operations · Revenue: Pre-commercial (no commercial product revenue as of acquisition) · Market cap: Acquired subsidiary (no longer public)