– Company’s Shares Will Trade Under New Ticker Symbol: ISEE –
NEW YORK–(BUSINESS WIRE)–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.
“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.
Contacts
Investor Contact:
IVERIC bio
Kathy Galante, 212-845-8231
Vice
President, Investor Relations and Corporate Communications
kathy.galante@ivericbio.com
or
Media
Contact:
SmithSolve
Alex Van Rees, 973-442-1555 ext. 111
alex.vanrees@smithsolve.com