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EXTON, PA-Othera Pharmaceuticals Inc. signed a long-term lease for 7,000 sf of office and lab space at 730 Springdale Rd. in Whiteland Business Park for its headquarters. The aggregate value of the lease is in excess of $1 million.

Othera, which was founded in 2002, recently closed on $16 million in venture capital financing to develop novel drugs to treat and prevent such eye diseases as cataracts, age-related macular degeneration and glaucoma. Its lead drug in development is an eye-drop formulation to prevent or delay cataract formation.

Whiteland is home to several pharmaceutical and technology firms. This August Widener University opened a new campus there devoted to retirees and students age 50 and older.

Brad Spiegel, president of Conshohocken-based Skyline Commercial Real Estate, represented Othera in the lease negotiations, working with Matt McDevitt, a principal of the building owner, Mockingbird Exton LP. Skyline specializes in only representing tenants.

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