Ophthotech Transitions to a Gene Therapy Focused Company Developing Treatments for Orphan Inherited Retinal Diseases & Change...
April 16 2019 - 7:30AM
Business Wire
- Company’s Shares Will Trade Under New Ticker
Symbol: ISEE –
Ophthotech Corporation (Nasdaq:OPHT) today announced that as
part of its transition strategy to focus on discovering and
developing novel gene therapy solutions to treat orphan inherited
retinal diseases (IRDs) with unmet medical needs, the Company is
changing its name to IVERIC bio, Inc. In conjunction with the
corporate name change, the Company will trade on the Nasdaq Global
Select Market under the new ticker symbol “ISEE”. The new ticker
symbol will become effective at the opening of the market on
Wednesday, April 17, 2019. The Company invites the public to view
its new corporate website at www.ivericbio.com.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190416005282/en/
“We are excited about our re-branding and corporate name change
reflecting our transition to a gene therapy focused company
developing treatments for patients with orphan inherited retinal
diseases,” stated Glenn P. Sblendorio, Chief Executive Officer and
President of IVERIC bio. “We are executing a strategy that
leverages our retinal expertise and provides a clear path forward
with multiple orphan IRD gene therapy programs. We believe this is
an important time for the Company as we advance our diversified
pipeline of scientifically compelling gene therapy programs and
explore new gene therapy opportunities for the treatment of orphan
IRDs and generate value for our shareholders.”
“We believe that gene therapy is the ideal solution to treat
patients with orphan inherited retinal diseases for which there are
no treatment options available,” stated Kourous A. Rezaei, M.D.,
Chief Medical Officer of IVERIC bio. “Our goal is to partner with
physicians to address this significant unmet medical need, prevent
vision loss and transform the lives of our patients. We look
forward to the exciting opportunities that lie ahead. Our clinical
therapeutic programs continue to remain on track, with clinical
data expected by the end of 2019 and 2020 for these programs. If
data are positive for these programs, we may seek partnership
opportunities for future clincal development.”
About IVERIC bio
IVERIC bio is a biotechnology company focusing on the discovery
and development of novel gene therapy solutions to treat orphan
inherited retinal diseases. Vision is Our Mission. For more
information on the Company’s gene therapy and other programs,
please visit www.ivericbio.com.
Forward-looking Statements
Any statements in this press release about the Company’s future
expectations, plans and prospects constitute forward-looking
statements for purposes of the safe harbor provisions under the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include any statements about the Company’s strategy,
future operations and future expectations and plans and prospects
for the Company, and any other statements containing the words
“anticipate,” “believe,” “estimate,” “expect,” “intend”, “goal,”
“may”, “might,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,” and
similar expressions. In this press release, the Company’s forward
looking statements include statements about the implementation of
its strategic plan, including its transition to a gene therapy
focused company, the timing, progress and results of clinical
trials and other research and development activities, the potential
utility of its product candidates and the potential for its
business development strategy, including any potential in-license
or acquisition opportunities. Such forward-looking statements
involve substantial risks and uncertainties that could cause the
Company’s development programs, future results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, those related to the
initiation and the conduct and design of research programs and
clinical trials, availability of data from these programs, reliance
on university collaborators and other third parties, expectations
for regulatory matters, need for additional financing and
negotiation and consummation of in-license and/or acquisition
transactions and other factors discussed in the “Risk Factors”
section contained in the quarterly and annual reports that the
Company files with the Securities and Exchange Commission. Any
forward-looking statements represent the Company’s views only as of
the date of this press release. The Company anticipates that
subsequent events and developments will cause its views to change.
While the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190416005282/en/
Investor Contact:IVERIC bioKathy Galante,
212-845-8231Vice President, Investor Relations and Corporate
Communicationskathy.galante@ivericbio.comorMedia
Contact:SmithSolveAlex Van Rees, 973-442-1555 ext.
111alex.vanrees@smithsolve.com
OPHTHOTECH CORP. (NASDAQ:OPHT)
Historical Stock Chart
From Aug 2024 to Sep 2024
OPHTHOTECH CORP. (NASDAQ:OPHT)
Historical Stock Chart
From Sep 2023 to Sep 2024