Press Release

BEDFORD, Mass., April 15, 2024 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ:OCUL) (“Ocular”), a biopharmaceutical company committed to enhancing people’s vision and quality of life through the development and commercialization of innovative therapies for wet age-related macular degeneration (wet AMD), diabetic retinopathy, and other diseases and conditions of the eye, today announced that Executive Chairman, Pravin U. Dugel, MD, is assuming the roles of President and Chief Executive Officer (CEO), and that Antony Mattessich is stepping down as President and CEO, effective immediately. In addition to his new responsibilities, Dr. Dugel will continue to serve as a director and as Executive Chairman of Ocular.

“On behalf of the Board of Directors and employees of Ocular, I want to wholeheartedly express Ocular’s utmost gratitude for Antony's many years of exceptional service and unwavering commitment to the Company. His passion and dedication has guided Ocular for years, enabling the formation of a high-quality organization and the development of our innovative retinal disease pipeline, led by AXPAXLI™,” said Dr. Dugel. “I believe AXPAXLI™ has the potential to dramatically change the treatment paradigm for retinal disease and look forward to advancing the development of this innovative product candidate in 2024 and beyond.”

“The journey with Ocular Therapeutix over the last seven-plus years has been the highlight of my career. Working with the team to emerge from the aftermath of the second CRL with DEXTENZA™, through approval and launch, has been amazing. Now, with AXPAXLI enrolling in the Phase 3 program with a Special Protocol Assessment, the Company is set to advance to the next stage,” said Mr. Mattessich. “As Ocular moves forward to transform into a leading retina care company, I am grateful to the employees, advisors, investors and collaborators who have supported the Company’s development and progress. I ‘pass the baton’ to Pravin with enthusiasm and optimism for all that lies ahead. The Company could not be in better hands.”  

About Dr. Dugel, Executive Chairman of the Board, Ocular Therapeutix

Pravin U. Dugel, MD has held previous leadership roles including President of IVERIC Bio, Inc., Managing Partner, Retinal Consultants of Arizona and the Retinal Research Institute; Clinical Professor, USC Eye Institute, Keck School of Medicine, University of Southern California; and Founding Member, Spectra Eye Institute in Sun City, Arizona.

Dr. Dugel has authored more than 200 papers and 35 book chapters and has been invited to give prestigious named lectures at marquis medical meetings and to serve as a visiting professor at major universities worldwide. He is on the editorial board of several major medical journals. Dr. Dugel is internationally recognized as a major clinical researcher and has been a principal investigator in over 100 multicenter clinical trials. His research and educational contributions earned him the prestigious Honor Award, Senior Honor Award and Lifetime Achievement Award from the American Academy of Ophthalmology (AAO). He has been elected and previously served as the Retina Subspecialty Day Board Chairman for the American Academy of Ophthalmology Annual Meeting, as a member of the Board of Directors of the largest retina society in the United States, the American Society of Retina Specialists (ASRS), and the largest retina society in Europe, EURETINA. Additionally, he has been elected to the Retina Society, Macula Society, and the Retina Hall of Fame.

Dr. Dugel has served as the Chair of the Scientific Advisory Board for major companies, including Novartis, Roche, Genentech, Allergan (Abbvie), Oxurion (Thrombogenics), Oculis, and Alcon. He has consulted for over 50 companies and has previously served on the IVERIC Bio and Aerpio Therapeutics Boards of Directors.

Dr. Dugel has been a member of the Board of Directors and Chair of Orbis International’s Medical Advisory Board and Medical Strategy Committee. Orbis International is a non-profit organization focused on ophthalmology training and education in the developing world. With Orbis, Dr. Dugel travels to developing countries to teach surgical techniques to local ophthalmologists and provide free surgery. In Arizona, Dr. Dugel founded an aviation company allowing him to travel to the Navajo, Hopi and Pima Indian Reservations to treat Native American patients suffering from preventable blindness.

Dr. Dugel was born in Kathmandu, Nepal, grew up in Vienna, Austria and attended Harrow School in London, England. He graduated summa cum laude from Columbia University in New York City and was elected to the Phi Beta Kappa Society. He was also captain of the Columbia Squash team. He then attended the UCLA School of Medicine, completing his residency in ophthalmology at the USC Eye Institute, Keck School of Medicine. Thereafter, he completed his medical retina fellowship at the Bascom Palmer Eye Institute and surgical retina fellowship at the USC Eye Institute, where he received both the Heed Foundation Fellowship award and Ronald G. Michels Foundation Fellowship award.

About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is a biopharmaceutical company committed to enhancing people’s vision and quality of life through the development and commercialization of innovative therapies for wet age-related macular degeneration (wet AMD), diabetic retinopathy, and other diseases and conditions of the eye. AXPAXLI™ (axitinib intravitreal implant, also known as OTX-TKI), Ocular’s product candidate for retinal disease, is based on its ELUTYX™ proprietary bioresorbable hydrogel-based formulation technology. AXPAXLI is currently in the first of two planned pivotal Phase 3 trials for wet AMD, the SOL-1 trial, and a Phase 1 clinical trial for the treatment of non-proliferative diabetic retinopathy. The clinical portfolio also includes PAXTRAVA™ (travoprost intracameral implant, also known as OTX-TIC), currently in a Phase 2 clinical trial for the treatment of primary open-angle glaucoma or ocular hypertension.

Ocular’s expertise in the formulation, development and commercialization of innovative therapies of the eye and the ELUTYX platform supported the development and launch of its first commercial drug product, DEXTENZA^®, an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery and ocular itching associated with allergic conjunctivitis. ELUTYX is also the foundation for two other clinical-stage assets, OTX-CSI (cyclosporine intracanalicular insert) for the chronic treatment of dry eye disease and OTX-DED (dexamethasone intracanalicular insert) for the short-term treatment of the signs and symptoms of dry eye disease, as well as several preclinical programs.

Follow us on our website, LinkedIn or X.

DEXTENZA^® is a registered trademark of Ocular Therapeutix, Inc. AXPAXLI™, PAXTRAVA™, and ELUTYX™ and Ocular Therapeutix™ are trademarks of Ocular Therapeutix, Inc.

Investors
Ocular Therapeutix
Donald Notman
Chief Financial Officer
dnotman@ocutx.com

Joyce Allaire
LifeSci Advisors
jallaire@lifesciadvisors.com

Source: Ocular Therapeutix, Inc.