Ophthotech Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

02 Sep 2015, 06:30 AM EDT

NEW YORK–(BUSINESS WIRE)–Ophthotech Corporation (NASDAQ:OPHT) today reported that in connection
with the appointment of Henric Bjarke, Senior Vice President and Chief
Commercial Officer, the Company entered into an employment arrangement
with Mr. Bjarke which provided for the grant of an inducement equity
award outside the Company’s Stock Incentive Plan in accordance with
NASDAQ Listing Rule 5635(c)(4).

On August 31, 2015, the Company granted Mr. Bjarke a non-statutory stock
option to purchase 120,000 shares of the Company’s common stock. The
grant was made pursuant to the NASDAQ inducement grant exception as a
component of Mr. Bjarke’s employment compensation. The inducement grant
was approved and recommended by Ophthotech’s Compensation Committee,
approved by the Board of Directors and was made as an inducement
material to Mr. Bjarke’s acceptance of employment with the Company in
accordance with NASDAQ Listing Rule 5635(c)(4).

The stock option granted to Mr. Bjarke has an exercise price of $44.03
per share, equal to the closing price of Ophthotech’s common stock on
August 31, 2015. The stock option has a ten year term and vests over
four years, with 25% of the original number of shares vesting on August
31, 2016 and an additional 2.0833% of the original number of shares
vesting at the end of each successive month thereafter, subject to Mr.
Bjarke’s continued service with the Company through the applicable
vesting dates.

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. Actual results may differ materially from
those indicated by such forward-looking statements as a result of
various important factors. 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.

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 Devine,
973-442-1555 ext 102
Jennifer.devine@smithsolve.com