I recently attended The Direct Dry AMD Meeting sponsored by
Duke University.
Ninety percent of people with AMD have the dry form and can lose vision from loss of photoreceptors and RPE.
The cells are often lost in circular patches called geographic atrophy of the RPE.
The patches usually start outside the center of the macula but then enlarge and coalesce. See eye with dry AMD below:

Currently there is no proven therapy to retard or stop the progression of atrophy. The beneficial affect of AREDS vitamins is mainly due to reducing the risk of developing the wet form of AMD and not in reducing the progression of atrophy. There are some trials that are now testing treatments aimed at slowing or stopping the progression of dry AMD:
Neurotech USA has developed a small tube that contains living cells and can be surgically implanted into the eye. The cells live in the tube and manufacture ciliary neurotrophic factor which is secreted into the eye. The hope is that this factor will retard the loss of cells in dry AMD. A Phase II study is underway and will involve a total of 48 patients although 12 of them will have a sham operation as a control. These patients will be followed for 18 months to see if the device has any affect on dry AMD.
Sirion Therapeutics is sponsoring a trial to evaluate fenretinide for the treatment of dry AMD. The drug is given orally and binds to retinol (vitamin A) which prevents it from entering the outer retina. This may seem counterproductive since retinol is needed to make rhodopsin which is the molecule that absorbs light and starts the process of seeing. Byproducts of rhodopsin metabolism however are toxic to the cell and patients with AMD often have an accumulation of these toxic byproducts. Reducing the amount of retinol entering the RPE seems to reduce the amount of these toxins. So perhaps depriving the eye of an excess of retinol may help retard the progression of AMD. Preliminary results of the 225 patients placed on fenretinide are expected in late 2008.
Othera Pharmaceuticals, Inc., is developing OT-551, which they describe simply as a small molecule that has anti-inflammatory, anti-oxidant, and anti-angiogenic properties. The molecule is given as an eye drop and Othera says it then penetrates back to the retina and choroid. OT-551 is being tested in two small studies on patients who have AMD.
The National Eye Institute is sponsoring a trial testing an eyedrop, OT-551, made by Othera Pharmaceuticals. The eyedrop has anti-oxidant, anti-inflammatory, and anti-angiogenic properties which could be beneficial in slowing the progression of dry AMD.
References
Lectures at the Direct AMD Meeting, October 25-27, 2007. Duke University., Durham, NC