Glenn P. Sblendorio to Join Ophthotech as Executive Vice President, Chief Operating Officer and Chief Financial Officer

  • Michael G. Atieh to Retire as Executive Vice President and Chief
    Financial and Business Officer; Transition Expected at End of First
    Quarter 2016 –

NEW YORK–(BUSINESS WIRE)–Ophthotech Corporation (NASDAQ: OPHT) today announced that Glenn P.
Sblendorio, a leading industry veteran, has agreed to join the Company
as Executive Vice President, Chief Operating Officer and Chief Financial
Officer on April 1, 2016. Mr. Sblendorio is joining Ophthotech from The
Medicines Company, where he most recently served as President and Chief
Financial Officer. Mr. Sblendorio has more than 30 years of experience
in the life sciences sector and is widely known in the investment
community and the biotechnology / pharmaceutical industry. He has held a
variety of senior management positions at Hoffmann-LaRoche, Inc.,
Eyetech Pharmaceuticals Inc. and MPM Capital Advisors, LLC. Mr.
Sblendorio has served as a member of the Board of Directors and the
Audit Committee Chairman of Ophthotech. He will resign as a Director of
Ophthotech effective with the assumption of his new executive position,
and effective immediately, Mr. Sblendorio will no longer serve on the
Audit Committee. Ophthotech also announced today that Michael G. Atieh
is retiring as Executive Vice President and Chief Financial and Business
Officer of the Company. The Company expects that Mr. Atieh’s retirement
will be effective as of April 1, 2016.

“Glenn is an accomplished leader in the healthcare industry with
extensive financial, operational and business development experience,”
said David R. Guyer, M.D., Chief Executive Officer and Chairman of the
Board of Ophthotech. “Samir Patel and I had the great pleasure of
working with Glenn in the past at Eyetech and we are delighted to
reunite with him as a key member of Ophthotech’s management team.
Glenn’s outstanding track record in the pharmaceutical / biotechnology
industry and his experience with Ophthotech as a member of our Board
make him an ideal senior executive to fulfill our Company’s current and
future needs. We are excited to have Glenn join us as we prepare to
report initial, topline data from two Phase 3 trials of Fovista®
in combination with Lucentis® for the treatment of wet
age-related macular degeneration in the fourth quarter of this year.”

Dr. Guyer added, “On behalf of the Company’s Board of Directors,
management team and employees, I want to thank Mike for his tremendous
contributions, especially his leadership building out the financial and
operational infrastructure of Ophthotech during a critical time for the
Company. We respect Mike’s desire to retire for personal reasons and
wish him well in his retirement.”

“Ophthotech’s growth over the past two years has been most impressive,
and I look forward to working with the team to prepare for the upcoming
year in which initial Fovista® Phase 3 pivotal data is
expected,” stated Mr. Glenn Sblendorio. “I am excited to have the
opportunity to work with David and Samir again and the management team
that they have assembled at Ophthotech. During our time together at
Eyetech, we brought the first anti-VEGF treatment for wet AMD to market.
This management team is once again at the forefront of innovation with
what we believe is the most clinically advanced anti-PDGF agent in
development for the treatment of wet AMD which, if approved, is expected
to be first to market in this class of novel therapies for wet AMD. I
look forward to developing strategies with them to build sustained value
for stakeholders.”

“It has been a personally and professionally rewarding experience to be
part of the executive leadership team of Ophthotech and a privilege to
work with the many dedicated employees of the Company,” said Michael G.
Atieh. “The Company is well positioned for a successful future.”

About Glenn Sblendorio

Glenn Sblendorio brings extensive executive leadership and many years of
experience in finance, accounting, operations and business development.
Mr. Glenn Sblendorio most recently served as President, Chief Financial
Officer and a member of the Board of Directors of The Medicines Company.
He has also held the title of Senior Vice President of Business
Development at The Medicines Company. Mr. Sblendorio also served as
Executive Vice President and Chief Financial Officer of Eyetech
Pharmaceuticals, Inc. Previously, Mr. Sblendorio was the Chief Executive
Officer and Managing Director of MPM Capital Advisors, LLC, an
investment bank specializing in healthcare related transactions. Mr.
Sblendorio’s pharmaceutical experience also includes 12 years at
Hoffmann-LaRoche, Inc. in a variety of senior financial positions,
including Vice President, Finance of Roche Molecular Systems and Head of
Finance-Controller for Amgen/Roche Europe. Mr. Sblendorio currently
serves on the board of directors of Amicus Therapeutics and Intercept
Pharmaceuticals. Mr. Sblendorio holds a Bachelor of Business
Administration (B.B.A,) degree from Pace University and a Master of
Business Administration (M.B.A.) degree from Fairleigh Dickinson
University, and he is a graduate of the Harvard Business School Advanced
Management Program.

About Ophthotech Corporation

Ophthotech is a biopharmaceutical company specializing in the
development of novel therapeutics to treat back of the eye diseases,
with a focus on developing innovative therapies for age-related macular
degeneration (AMD). Ophthotech’s most advanced product candidate, Fovista®
anti-PDGF therapy, is in Phase 3 clinical trials for use in combination
with anti-VEGF therapy that represents the current standard of care for
the treatment of wet AMD. Ophthotech’s second product candidate, Zimura®,
an inhibitor of complement factor C5, is being developed for the
treatment of geographic atrophy, a form of dry AMD. For more
information, please visit www.ophthotech.com.

Forward-looking Statements

Any statements in this press release about Ophthotech’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 Ophthotech’s strategy, future operations and future
expectations and plans and prospects for Ophthotech, 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, Ophthotech’s
forward looking statements include statements about Mr. Sblendorio’s
start date with Ophthotech, the expected effective date of Mr. Atieh’s
retirement, the timing and progress of the Fovista® Phase 3 clinical
program, including the timing of obtaining initial, topline data from
these trials, the timing of potential marketing approval for Fovista®
and the potential of Fovista® as a wet AMD combination therapy. Such
forward-looking statements involve substantial risks and uncertainties
that could cause Ophthotech’s clinical 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
conduct of clinical trials, availability of data from clinical trials
and expectations for regulatory approvals or other actions and other
factors discussed in the “Risk Factors” section contained in the
quarterly and annual reports that Ophthotech files with the SEC. Any
forward-looking statements represent Ophthotech’s views only as of the
date of this press release. Ophthotech anticipates that subsequent
events and developments will cause its views to change. While Ophthotech
may elect to update these forward-looking statements at some point in
the future, Ophthotech specifically disclaims any obligation to do so
except as required by law.

OPHT-G

Contacts

Investors
Ophthotech Corporation
Kathy Galante,
212-845-8231
Vice President, Investor Relations and Corporate
Communications
kathy.galante@ophthotech.com
or
Media
SmithSolve
LLC on behalf of Ophthotech Corporation
Jennifer Devinen
973-442-1555 ext. 102
jennifer.devine@smithsolve.com