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EyeTech closes $108.5mm Series C placement

Executive Summary

EyeTech Pharmaceuticals Inc. (eye disease drugs) could raise as much as $108.5mm in a two-tranche private placement of Series C preferred stock led by JP Morgan Partners. Other investors were BB Biotech, MPM Capital, Alta Partners, Schroder Ventures, and Merrill Lynch. The first half of the financing is payable immediately; the second $54.2mm is payable on the completion of enrollment of the two pivotal Phase III trials of its lead product, Macugen, for age-related macular degeneration (AMD).
Deal Industry
  • Biotechnology
    • Antisense, Oligonucleotides
    • Large Molecule
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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