Ophthotech, a developer of therapies for the treatment of major ophthalmic diseases, has raised $175 million in a new round of financing. The financing consists of $125 million from Novo A/S in exchange for royalties, as well as $50 million in Series C funding from Novo A/S and current Ophthotech investors. The financing is structured in three equal tranches, the first of which has closed. The New York-based company’s lead compound, Fovista, is being developed for the treatment of patients with wet AMD (Age-Related Macular Degeneration). Current Ophthotech backers include SV Life Sciences, Clarus Ventures and HBM Healthcare Investments.