Study to Assess Safety and Tolerability of PMC-403 in Subjects With Neovascular Age-related Macular Degeneration

Inclusion Criteria: To be eligible for study participation, subjects must meet all of the following inclusioncriteria.

• Criteria for the selection of the study eye If both eyes meet the criteria, the study eye will be selected according to the followingcriteria:

1. The eye with lower (severer) best corrected visual acuity (BCVA) at baseline will beselected as the study eye.
2. If both eyes have the same BCVA, the right eye will be selected as the study.
3. Male and female ≥50 years of age at the time of written informed consent.
4. Treatment required, based on the judgment of the investigator, due toinsufficient therapeutic efficacy despite ≥ 3 repeated doses of anti-vascularendothelial growth factor (anti-VEGF) intravitreal injection (IVT) for nAMD inthe study eye, and the subject's agreement to receive the study drug instead ofconventional standard therapy
5. >12 weeks must have elapsed since the last dose of anti-VEGF IVT at the time ofscreening.
6. Active subfoveal or parafoveal choroidal neovascularization (CNV)* confirmed byfundus fluorescein angiography (FFA), spectral domain-optical coherencetomography (SD-OCT), and IndoCyanine Green (ICG) angiography. *Active CNV (confirmed by the central reading center) is defined as the presenceof subretinal fluid (SRF) or intraretinal fluid (IRF) in consequence of vascularleakage.
7. The size of the entire lesion in the study eye (including blood, atrophy,fibrosis, and neovascularization) must be ≤ 9-disc areas, and the area of CNV inthe study eye must account for ≥ 50% of the total area of the lesion, asconfirmed by FFA and ICG angiography.
8. BCVA measured in the study eye must be between ≥ 23 letters and ≤ 78 lettersbased on the Early Treatment of Diabetic Retinopathy Study (ETDRS) chart (Snellenvisual acuity 20/25 - 20/320).
9. Voluntary written informed consent to study participation.

Exclusion Criteria: Subjects who meet any of the following exclusion criteria are not eligible for studyparticipation.

1. At the screening visit:
2. Uncontrolled ocular hypertension (≥ 25 mmHg) despite drug therapy;
3. Retinal pigment epithelium (RPE) tears involving the macula;
4. Improvement in visual acuity is not expected due to scars, fibrosis, or atrophyinvolving the fovea;
5. Presence of vitreous hemorrhage;
6. Aphakia or absence of posterior capsule (with the exception of pseudophakic eyestreated with laser posterior capsulotomy);
7. Presence of any causes of CNV other than nAMD, such as ocular histoplasmosis,trauma, pathological myopia, angioid streak, choroidal rupture, or uveitis; or
8. Macular pathology that is unrelated to nAMD, but may affect visual acuity orstudy drug treatment (e.g., macular hole, epiretinal membrane, vitreomaculartraction, macular telangiectasia, central serous chorioretinopathy, retinalvascular occlusion, etc.).
9. Any of the following conditions or medical history in either eye:
10. Current or known history of at least moderate diabetic retinopathy or diabeticmacular edema;
11. Active intraocular or periocular infections or inflammations (e.g., infectiousconjunctivitis, keratitis, scleritis, endophthalmitis, infectious blepharitis,etc.); or
12. History of idiopathic or autoimmune uveitis.
13. Any of the following systemic diseases:
14. Unstable or serious cardiovascular disorders such as congestive heart failure (New York Heart Association Functional Class III or IV), ventricular tachycardiarequiring continuous treatment, unstable angina pectoris, or critical limbischemia;
15. Uncontrolled hypertension with systolic or diastolic blood pressure > 160/100mmHg;
16. Stroke or myocardial infarction within 24 weeks prior to screening;
17. Dementia or neurodegenerative disorders (e.g., Alzheimer's disease, Parkinson'sdisease) that might affect study results during the study period;
18. History of malignant tumors within 5 years prior to screening; or
19. Weakened immunity or requiring immunotherapy.
20. Clinically significant liver/kidney disease or any of the following hematologictest results:

• Serum creatinine ≥1.5 x upper limit of normal
• Aspartate transaminase (AST) or alanine transaminase (ALT) ≥2 x upper limitof normal

4. Treatment with any of the following systemic drug therapy:
5. Systemic anti-VEGF therapy within 12 weeks prior to baseline;
6. Systemic corticosteroids for ≥2 consecutive weeks

• ≤ 10 mg/day prednisolone or equivalent for less than 2 consecutive weekswill be allowed
• Inhaled, nasal, and topical steroids will also be allowed

3. Ongoing treatment with any drugs with potential toxicity to the lens, retina, andoptic nerves (e.g., deferoxamine, chloroquine/hydroxychloroquine, tamoxifen,phenothiazines, vigabatrin, or ethambutol).
4. Any of the following medical history (surgical or procedural):
5. Intraocular or periocular injection of corticosteroids (e.g., triamcinoloneacetonide, etc.) to the study eye within 24 weeks prior to screening;
6. Intraocular surgery or laser therapy (e.g., cataract surgery, laser posteriorcapsulotomy, etc.) to the study eye within 12 weeks prior to screening;
7. Eyelid surgery within 4 weeks prior to screening;
8. History of vitrectomy, glaucoma surgery, macular laser treatment, keratoplasty,or retinal detachment surgery; or
9. History of treatment with radiotherapy around the study eye including radiationretinopathy
10. Any concurrent ophthalmic abnormalities that, based on the judgment of theinvestigator, may affect the assessment of safety and therapeutic efficacy or may needmedical or surgical treatment during the study period (e.g., cloudy ocular media,optic neuropathy, amblyopia, etc.).
11. Hypersensitivity to any of the components of IP or to contrast agents used for FFA andICG angiography.
12. Pregnant and/or breastfeeding women.
13. Men and women of childbearing potential who are unwilling to use adequate methods ofcontraception* or who are planning a pregnancy during the study period and for 12weeks from the last dose of IP -Methods of contraception: hormone contraceptives (oral contraceptives, contraceptivepatch, etc.), intrauterine device (IUD) (copper IUD, hormonal intrauterine system),double barrier method (both male [condom] and female [diaphragm, vaginal sponge, orcervical cap]), surgical sterilization (tubal sterilization, vasectomy, etc.)
14. Having participated in another clinical trial and treated with an IP within 12 weeksprior to screening
15. Distance vision test result of <0.1 for the fellow eye
16. Other reasons based on which individuals are determined by the investigator to beineligible for study participation.