SOURCE: EyeGate Pharma

August 29, 2007 08:01 ET

EyeGate Pharma Adds Paul Chaney to Board of Directors; Prepares for Clinical Operations

WALTHAM, MA--(Marketwire - August 29, 2007) - EyeGate Pharma, a privately held, specialty pharmaceutical company pioneering the use of iontophoresis technology to safely and non-invasively deliver therapeutics for ocular indications, today announced the appointment of Paul G. Chaney as a member of the Board of Directors. Mr. Chaney is Executive Vice President of OSI Pharmaceuticals (NASDAQ: OSIP) and President of (OSI) Eyetech, OSI's eyecare subsidiary. Prior to the merger of Eyetech with OSI, Mr. Chaney served as Chief Operating Officer of Eyetech.

Stephen From, President and Chief Executive Officer of EyeGate Pharma, commented, "Paul has a great deal of operational leadership experience, specifically in building and running successful ophthalmology focused biotechnology companies. His strategic counsel on matters relating to manufacturing/CMC, project management, product lifecycle, regulatory and business development, will be of great value to EyeGate as we prepare for clinical operations featuring the EyeGate® II Delivery System, which has been shown to safely and non-invasively deliver therapeutics to the front and back of the eye."

As a core member of the OSI Executive Management Committee, Mr. Chaney is responsible for all business functions at (OSI) Eyetech, including R&D, sales, marketing, medical affairs and business development. Mr. Chaney was responsible for preparing the organization for the launch of MACUGEN®, the first FDA approved anti-VEGF inhibitor to treat wet age-related macular degeneration (AMD). Mr. Chaney presided over all of the commercial functions critical to the MACUGEN® launch, achieving first year sales of $185 million, the best first-year sales performance in ophthalmology history at the time.

Mr. Chaney has more than 25 years of experience in the pharmaceutical industry, including serving in a variety of senior management positions at Pharmacia Corporation, a pharmaceutical company acquired by Pfizer in April 2003. At Pharmacia, he was responsible for the launch of a number of leading ophthalmic products, including Tecnis®, Healon5®, Xalatan® and Xalcom®. Mr. Chaney also served as Vice President, Global Commercial Operations of the Ophthalmology Franchise, as Vice President of the Global Ophthalmology Business and as Vice President of Global Pharmaceutical Ophthalmology. Previously, he was Business Director, Ophthalmology, North America; and served as Director of Pharmacia's U.S. Ophthalmology Business. He began his career as a sales representative for The Upjohn Company in 1980.

Mr. Chaney earned a double B.A. with honors in English and Biological Sciences from the University of Delaware.

Mr. Chaney joins current board members, including Michael Mullen, CFA, Chairman of the Board (Managing Director and Founder of Tarvos Capital Management), and Directors: Alain Maiore (General Partner of Ventech Partners), J. Sebastien Cleiftie (Investment Manager of Innoven Partenaires), Thomas E. Hancock (Principal of Nexus Medical Partners), Samir Patel, M.D. (President and CEO of Ophthotech and formerly co-founder, Director, Chief of Clinical and Commercial Strategy as well as Chief Medical Officer of Eyetech Pharmaceuticals) and Stephen From (President and CEO of EyeGate Pharma).

About EyeGate Pharma

EyeGate Pharma was founded in 1998 with technology licensed from Bascom Palmer Eye Institute at the University of Miami. EyeGate's transscleral (across the sclera, or white protective outer membrane of the eye) iontophoresis delivery platform, the EyeGate® II Delivery System, was designed by ophthalmologists for ophthalmologists. This non-invasive system can be applied to safely deliver a wide range of therapeutics to both the anterior and posterior chambers of the eye. An 89-patient pilot study, using the Company's first-generation delivery device, demonstrated exceptional patient tolerance with a significant decrease in inflammatory markers and a concurrent increase in visual acuity. A typical application takes less than five minutes and has been shown to be extremely well tolerated in patients suffering from severe uveitis and other inflammatory ocular diseases. Clinical studies utilizing the EyeGate® II Delivery System are scheduled to begin in 2008. For more information please visit www.eyegatepharma.com.

[Editors Note: Photo available upon request]

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