Home / Business News / Ophthotech Transitions to a Gene Therapy Focused Company Developing Treatments for Orphan Retinal Diseases and Changes Name to IVERIC bio

Ophthotech Transitions to a Gene Therapy Focused Company Developing Treatments for Orphan Retinal Diseases and Changes Name to IVERIC bio

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.

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