Age-related macular degeneration (AMD) is the leading cause of vision loss in patients over 60 years of age in the developed world, and it remains an area of unmet medical need. There are two forms of AMD, dry (non-neovascular) and wet (neovascular), which affect over 16 million people in the United States and Europe. The annual incidence is expected to increase with an ageing population, and prevalence in Western countries is anticipated to reach 25 million by 2020 (REF. 1). The wet form of AMD is characterized by abnormal neovascularization (angiogenesis) into the central region of the retina. The process results in severe vision loss due to retinal damage caused by ensuing leakage and scar formation. Around 10% of patients exhibit wet AMD; however, it accounts for over 90% of the serious loss of vision. Although there are currently no US Food and Drug Administration (FDA)-approved drug therapies for the more common dry form, moderately effective treatments are available on the market for wet AMD.