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IVERIC BIO, INC.

(ISEE)
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IVERIC bio : Announces the Addition of Mark S. Blumenkranz, M.D., M.M.S., to its Board of Directors

07/16/2020 | 08:03am EDT

A Biotechnology Industry Leader and Internationally Known Vitreo-Retinal Specialist with Notable Expertise in Pharmaceuticals for Age-Related Macular Degeneration and Ocular Gene Therapy –

IVERIC bio, Inc. (NASDAQ: ISEE) announced today the election of Mark S. Blumenkranz, M.D., M.M.S., HJ Smead Professor Emeritus of Ophthalmology at Stanford University, to its Board of Directors, effective as of July 15, 2020. Dr. Blumenkranz is an internationally known vitreo-retinal specialist, with notable contributions in the area of novel pharmaceuticals for macular diseases, ocular gene therapy, new laser systems, and ophthalmic tele-health and technology development.

“As a highly-recognized retinal specialist and co-founder of multiple biotechnology and medical technology companies, Mark’s ophthalmic expertise and extensive business experience will be of tremendous value as we continue to advance our pipeline of therapeutics for age-related retinal diseases and gene therapy product candidates for inherited retinal diseases,” stated Glenn P. Sblendorio, Chief Executive Officer and President of IVERIC bio.

“IVERIC bio has created an exceptional retinal focused pipeline that has the potential to deliver breakthrough solutions for patients,” stated Dr. Blumenkranz. "It is exciting to see the advances that the Company has made in its retinal pipeline including Zimura and the new gene therapy programs. I am thrilled to join the board of directors of IVERIC bio as the Company advances to the next stage of its development.”

“Mark’s experience in leading and building biotechnology companies, further strengthens our board and represents a valuable addition to the Company,” stated David R. Guyer, M.D., Executive Chairman of IVERIC bio. “We welcome Mark as a board member and look forward to his contributions to IVERIC bio’s future successes.”

Mark S. Blumenkranz, M.D., M.M.S.
Mark S. Blumenkranz, M.D., M.M.S., is HJ Smead Professor Emeritus in the Department of Ophthalmology at Stanford University, where he is the co-director of the Ophthalmic Innovation Program. Dr. Blumenkranz is a co-founder and the Chief Executive Officer and Chairman of Kedalion Therapeutics and currently serves as a director of Verana Health, BVI Visitec, Combangio Corporation, and One Medical (ONEM:NASDAQ). Dr. Blumenkranz is also a Managing Director of Lagunita Biosciences, an early stage biotechnology and medical investment company and incubator.

He was a co-founder and served on the Boards of Optimedica Corporation (acquired by AMO), Peak Surgical (acquired by Medtronics), Adverum Biotechnologies (ADVM:NASDAQ), and Oculeve (acquired by Allergan). He also co-founded Verana Health (formerly Digisight Technologies) and Combangio Corporation, both clinical-stage privately held venture backed companies in Silicon Valley, and continues to serve on their Boards. In the past he served as an independent Director at Oculex Pharmaceuticals (acquired by Allergan), and Presbia.

Dr. Blumenkranz has a longstanding interest and expertise in university corporate technology transfer and early stage biomedical company formation and is the author of more than 160 peer reviewed articles and more than 18 issued patents including the Pascal and Catalys lasers. He is a past President of the American University Professors of Ophthalmology, the Retina Society, the Macula Society, and a Fellow Emeritus of the Corporation of Brown University, where he served as the Chair of the Medical School Committee.

Dr. Blumenkranz received his undergraduate, graduate and medical degrees at Brown, his ophthalmic residency training at Stanford and a fellowship in vitreo-retinal diseases at the Bascom Palmer Eye Institute. He served as the Chair of the Ophthalmology Department at Stanford from 1997 until 2015 and played a leading role in the planning, fundraising and construction of the Byers Eye Institute there.

About IVERIC bio
IVERIC bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatment options for retinal diseases with significant unmet medical needs. The Company is currently developing both therapeutic product candidates for age-related retinal diseases and gene therapy product candidates for orphan inherited retinal diseases. Vision is Our Mission. For more information on the Company, please visit www.ivericbio.com.

IVERIC bio Forward-looking Statements

Any statements in this press release about the Company’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 the Company’s strategy, future operations and future expectations and plans and prospects for the Company, and any other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend”, “goal,” “may”, “might,” “plan,” “predict,” “project,” “seek,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions. In this press release, the Company’s forward looking statements include statements about the implementation of its strategic plan. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’s 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 progression and duration of the COVID-19 pandemic and responsive measures thereto and related effects on the Company’s research and development programs, operations and financial position, the initiation and the progress of research and development programs and clinical trials, availability of data from these programs, reliance on university collaborators and other third parties, establishment of manufacturing capabilities, expectations for regulatory matters, need for additional financing and negotiation and consummation of business development transactions and other factors discussed in the “Risk Factors” section contained in the quarterly and annual reports that the Company files with the Securities and Exchange Commission. Any forward-looking statements represent the Company’s views only as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. While the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so except as required by law.

ISEE-G


© Business Wire 2020
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Financials (USD)
Sales 2021 - - -
Net income 2021 -94,2 M - -
Net cash 2021 115 M - -
P/E ratio 2021 -7,05x
Yield 2021 -
Capitalization 621 M 621 M -
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 65
Free-Float 93,5%
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Mean consensus BUY
Number of Analysts 3
Average target price 13,33 $
Last Close Price 6,88 $
Spread / Highest target 118%
Spread / Average Target 93,9%
Spread / Lowest Target 60,0%
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Managers and Directors
NameTitle
Glenn P. Sblendorio Chief Executive Officer & Director
Pravin U. Dugel President
David F. Carroll Chief Financial Officer, Treasurer & SVP
David R. Guyer Executive Chairman
Abraham Scaria Chief Scientific Officer
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