SOURCE: EyeGate Pharma

October 30, 2006 08:15 ET

EyeGate Pharma Starts U.S. Operations in Waltham, MA

Stephen From Announced as President & CEO; Builds Out Management Team

WALTHAM, MA and PARIS -- (MARKET WIRE) -- October 30, 2006 -- EyeGate Pharma, a specialty pharmaceutical company pioneering the use of iontophoresis technology to safely deliver therapeutics for ocular indications, today announced the start of its U.S. operations at 100 Beaver Street, Waltham, MA in 12,200 square feet of combined office and lab space. The Company also formally introduced its President & CEO, Stephen From, a former Chief Financial Officer and life science investment banker, as well as other key members of its senior management team.

EyeGate Pharma, a privately held, venture-backed specialty pharmaceutical company, is using its proprietary iontophoretic technology to safely and non-invasively deliver therapeutics to the anterior and posterior chambers of the eye.

Thomas M. Finneran, President, Massachusetts Biotechnology Council, commented on the news, "Massachusetts welcomes EyeGate to our expanding community of world-class life science companies. EyeGate is the latest in a growing number of companies coming from the Continent to Massachusetts. The scientific talent pool our area offers is unmatched by any region and this is evidenced by the pace and quality of the new hires EyeGate has recruited in a very short time. I look forward to working with Stephen and his team to further advance Massachusetts' biotechnology leadership and to achieve our common goals."

Michael Mullen, CFA, EyeGate's Chairman of the Board, who is also Managing Director and Founder of Tarvos Capital, added, "Starting U.S. operations in the Boston area is an important step for EyeGate because of the region's deep roots in biotechnology. We are delighted to have Stephen lead EyeGate as we transition to a clinical-stage company."

Mr. From was formerly a senior executive and Chief Financial Officer at Centelion SAS, a 100-person independent biotechnology company with a Phase II biological drug for the treatment of peripheral vascular disease. In early 2006, sanofi aventis acquired 100 percent ownership of the company.

Mr. Mullen continued, "Stephen's strategic industry experience as well as financial expertise as a life science banker and chief financial officer will be critical as we continue to develop, finance and partner the company through clinical trials."

Stephen From, President and Chief Executive Officer, added, "My first hire at the company was Perry Calias, Ph.D., as VP, Research and Development. He was formerly Senior Director, Drug Delivery and Chemistry at Eyetech Pharmaceuticals in Lexington, MA (now OSI), where he built a world-class lab to support the development of the marketed product, Macugen® (pegaptanib sodium injection) for age-related macular degeneration. With Dr. Calias' help, we have recruited a top-notch, veteran R&D team with unique ocular expertise, so the group has hit the ground running."

EyeGate also reported additional key senior management hires:

Paul Perkins has joined EyeGate as Director of Finance. Paul was formerly Chief Financial Officer at Masonic Health System and brings broad expertise in different levels of business operations, including human resources, sales and marketing and strategic planning and budgeting.

Michael Manzo has joined EyeGate as Senior Director of Engineering. Michael has held executive level positions at several companies, including most recently at Jenline Industries. He brings a deep operational, engineering development and project management experience to the Company.

Judy F. Gordon, D.V.M., has joined the team as a regulatory advisor. As a consultant to EyeGate, Dr. Gordon will actively manage all regulatory activities.

About EyeGate

EyeGate's approach to treating ocular diseases addresses issues faced by current ocular delivery applications, such as injections or implants that are hindered by collateral toxicities, sight-threatening infections, and/or retinal damage. EyeGate is the first company to demonstrate clinical significance utilizing iontophoresis for the local treatment of ocular disease. The Company will independently develop its lead products for severe uveitis and glaucoma and will seek to partner indications that address other sizeable opportunities that treat ocular disease.

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