Newly formed Opko Corp. plans to study wet AMD therapy

Newly formed Opko Corp. plans a phase III trial of bevasiranib (formerly Cand5) as maintenance therapy for wet AMD in combination with ranibizumab (Lucentis, Genentech).

Key Points

Miami-Two privately owned pharmaceutical companies will merge with a publicly traded company with no active operations to create Opko Corp.

The company unites Acuity Pharmaceuticals and Froptix Corp. with eXegenics Inc. Headquarters will be in Miami.

Philip Frost, former chief executive officer (CEO) and chairman of IVAX Corp., will become chairman and CEO of Opko.