OPHTHOTECH CORPORATION (NASDAQ:OPHT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement

On June 29, 2018, Ophthotech Corporation (the “Company”) entered into a Sixth Amendment of Lease (the “Sixth Lease Amendment”) with One Penn Plaza LLC, as landlord, amending the Lease Agreement, dated as of September30, 2007, between the Company and One Penn Plaza LLC, as previously supplemented and amended (as so supplemented and amended, the “Lease”). The Sixth Lease Amendment provides for an extension to the existing Lease at One Penn Plaza in New York City, New York. The Lease, as extended, will now expire at the end of June 2020. The Company intends to continue to use the office space leased under the Lease for corporate and clinical operations. The fixed rent fees, which include utility costs, over the extended term of the Lease from January 2019 through June 2020 are approximately $992,000 per annum (approximately $83,000 per month). The Company is also liable for taxes and other charges related to the leased premises. The Company previously provided the landlord with a letter of credit in an amount of approximately $138,000 to secure the Company’s obligations under the Lease.

The Company expects to file the Sixth Lease Amendment as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending June 30, 2018. The foregoing description is qualified in its entirety by reference to the complete text of the Sixth Lease Amendment when filed.

About OPHTHOTECH CORPORATION (NASDAQ:OPHT)

Ophthotech Corporation is a biopharmaceutical company. The Company specializes in the development of therapeutics to treat diseases of the back of the eye, with a focus on developing therapeutics for age-related macular degeneration (AMD). Its advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs. It is also developing its product candidate Zimura for the treatment of patients with geographic atrophy, a form of dry AMD, in combination with VEGF therapy for the treatment of polypoidal choroidal vasculopathy (PCV). Fovista is being tested in Phase III clinical development. In addition, it has initiated additional clinical trials to evaluate the potential additional benefits of Fovista administered in combination with anti-VEGF drugs in wet AMD patients, known as Fovista Expansion Studies. Zimura has completed a small, multicenter, uncontrolled, open label Phase I/IIa clinical trial.