Phase I Study of Palomid 529 a Dual TORC1/2 Inhibitor of the PI3K/Akt/mTOR Pathway for Advanced Neovascular Age-Related Macular Degeneration

Inclusion Criteria: * Best corrected visual acuity in the study eye between 20/100 and 20/800 (between 53 and 4 ETDRS letters read), and better or equal to 20/200 (minimum of 34 letters read) in the fellow eye. * Subfoveal choroidal neovascularization (CNV) due to AMD * Total area of the lesion (including blood, neovascularization and scar/atrophy) must be \< 12 DA. * Only 1 eye will be treated in the study. If both eyes are eligible, the investigator will select the eye with the most active CNV * Clear ocular media and adequate pupillary dilatation to permit good stereo fundus photography for screening * Intraocular pressure of 21 mm Hg or less * Retinal thickness ≥ 250 μm by OCT, with presence of intraretinal or subretinal fluid Exclusion Criteria: * Any retinovascular disease or retinal degeneration other than AMD * Serous pigment epithelial detachment without the presence of neovascularization * Previous posterior vitrectomy or retinal surgery * Any periocular infection in the past 4 weeks * Concomitant therapy with anti-VEGF therapies, e.g. Avastin, Lucentis or Macugen, or previous use of these agents within 60 days of screening * Concomitant therapy with intravenous or intravitreous corticosteroids or use within 90 days of screening * Significant media opacities, including cataract, which might interfere with visual acuity, assessment of toxicity, or fundus photography * Cataract surgery in the study eye within 3 months of screening * Intraocular surgery in the study eye within 3 months of screening * Presence of ocular infection in the study eye * Presence of severe myopia (-8 diopters or greater) in the study eye