Age-related macular degeneration (AMD) is a medical condition which usually affects older adults and can result in a significant loss of vision. AMD occurs in the “dry” (non-exudative) and “wet” (exudative) forms. Wet AMD is the advanced form of macular degeneration that is characterized by the formation of abnormal and leaky new blood vessels in the back of the eye behind the retina, termed choroidal neovascularization. The wet form of AMD accounts for approximately 15 percent of all AMD cases, yet is responsible for 90 percent of severe vision loss associated with the disease. According to the National Eye Institute, the prevalence of wet AMD among adults 40 years or older in the U.S. alone is estimated at 1.75 million people. In addition, more than 200,000 new cases are diagnosed annually in the U.S.