Oldtech, Inc.

Dive Brief:Merck & Co. on Wednesday said it has agreed to buy privately held eye drug developer EyeBio for $1.3 billion in cash upfront and as much as $1.7 billion in future milestone payments.Backed by SV Health Investors, Samsara BioCapital and Jeito Capital, EyeBio focuses on developing treatments for vision loss associated with retinal vascular leakage. Its most advanced drug, Restoret, is an injection designed to restore the blood-retinal barrier by targeting a signaling pathway known as Wnt.Restoret delivered results Merck described as positive in a Phase 1b/2a study of people with diabetic macular edema and neovascular age-related macular degeneration. Based on that research, EyeBio plans to move Restoret into a pivotal trial for patients with diabetic macular edema in the second half of this year.Dive Insight:The purchase offers more diversity for a Merck pipeline dominated by vaccines and treatments for cancer, infectious diseases and cardiometabolic disorders. An earlier foray into eye disease fizzled out in 2022 when a partnership with NGM Biopharmaceuticals produced disappointing study results for a geographic atrophy drug. Merck later dropped its option to license the medicine and related compounds.EyeBio launched in 2021 under the direction of founders David Guyer and Tony Adamis, who will both now join Merck. The pair previously founded a company called Eyetech Pharmaceuticals, which Guyer ran as CEO before becoming a venture capitalist and later serving as CEO of Iveric Bio.Adamis went on to Roches Genentech, where he helped develop Vabysmo as part of his focus on anti-vascular endothelial growth factor, or VEGF, drugs.Adamis is credited with the co-discovery of the important role VEGF can play in neovascular-related macular degeneration and diabetic retinopathy. Overall, hes helped develop 20 medications with 30 indications that have led to 25 Food and Drug Administration approvals, according to his corporate biography.Guyer and Adamis founded EyeBio with seed money from SV Health. The company then undertook a Series A financing round in February 2022 that raised $65 million, helped by funds from Mercks corporate venture arm. In November 2023, an expanded Series A round upped the total to $130 million.Mercks decision to snap up EyeBio follows an upswing in biotech acquisitions that began last year after a relatively quiet 2021 and 2022. Merck said the acquisition will be made through a subsidiary and should close in the third quarter. '

Ophthalmology industry veteran brings 20 years of experience as a life science investor and entrepreneur to Nacuity’s boardFORT WORTH, Texas, April 16, 2024 (GLOBE NEWSWIRE) -- Nacuity Pharmaceuticals, Inc., a clinical stage biopharmaceutical company developing novel treatments for retinitis pigmentosa, cataract, and other diseases caused by oxidative stress, today announced the appointment of Emmett T. Cunningham, Jr., M.D., Ph.D., MPH, to its board of directors. Dr. Cunningham is currently a Senior Partner at HealthQuest Capital Management and co-founder and Executive Chairman of Eyconis, Inc., a spinout of Ascendis Pharma created to develop, manufacture, and commercialize TransCon ophthalmology assets globally. “We’re thrilled to welcome Dr. Cunningham to our board of directors,” said Halden Conner, Chairman, CEO and Co-Founder of Nacuity Pharmaceuticals. “His career as a prominent leader in the ophthalmology industry, bridging the business world and ophthalmic innovation, will be a vital asset at this pivotal time for our clinical programs in oxidative stress.” Dr. Cunningham is an ophthalmology industry veteran with over 20 years of experience as a full-time investor and entrepreneur who has led or co-led investments and partnerships in the medical device and biotechnology space that have supported the FDA approval of multiple therapeutics. He is also an internationally recognized specialist in infectious and inflammatory eye disease with over 400 publications. “Nacuity’s approach to treating ophthalmic and non-ophthalmic disorders is both completely novel and tremendously promising,” said Dr. Cunningham. “I look forward to working with the Nacuity team to unlock the broad therapeutic potential of its clinical programs in treating ocular and non-ocular disease.” Prior to HealthQuest and Eyconis, Dr. Cunningham served as a Senior Managing Director at Blackstone, Inc. following that firm’s acquisition of Clarus Ventures in 2018. At Clarus, Dr. Cunningham was a member of the full-time investment team since the firm’s inception in 2006. From 2001 to 2005, Dr. Cunningham was the Senior Vice President of Medical Strategy at Eyetech Pharmaceuticals, Inc., where he was part of the leadership team that developed Macugen®, a first-in-class VEGF-A inhibitor for the treatment of age-related macular degeneration. Prior to Eyetech, Dr. Cunningham was at Pfizer, Inc. In addition, Dr. Cunningham was the co-founder and chairman of the Ophthalmology Innovation Summit (OIS). He received an M.D. and MPH in epidemiology and statistics from Johns Hopkins University and a Ph.D. in neuroscience from the University of California at San Diego for work done at The Salk Institute. Dr. Cunningham is a member of the board of directors of Galera Therapeutics and Executive Chairman of Eyconis. He serves as Innovator in Residence for Johns Hopkins Technology Ventures (JHTV); as a member of the Biomedical Engineering Advisory Board at Johns Hopkins University; is an advisor to the Byers Center for BioDesign at Stanford University; and serves philanthropically on the Boards of The Alta Foundation and EverythingALS. About Nacuity Pharmaceuticals, Inc. Nacuity Pharmaceuticals, Inc. (https://www.nacuity.com/), is a clinical-stage leader in innovative treatments for diseases produced by oxidative stress. The company’s powerful, targeted therapies aim to attenuate oxidative tissue damage, a driver of blinding eye diseases and a broad spectrum of serious chronic conditions. Nacuity has three highly differentiated, first-in-class clinical development programs ongoing in retinitis pigmentosa, cataract and inherited cystinosis. Nacuity has operations in Fort Worth, TX, USA, and Australia, and extensive managerial and scientific domain expertise as well as backing from Foundation Fighting Blindness (https://www.fightingblindness.org/) and its venture arm RD Fund (https://www.retinaldegenerationfund.org). Nacuity Media ContactJulia Clements267.626.1085jclements@6degreespr.com

New Addition Highlights Continued Enhancement of Organization's Strategic Trajectory DALLAS, Dec. 4, 2023 /PRNewswire/ -- Nanoscope Therapeutics (Nanoscope), a clinical-stage biotechnology company developing gene therapies for inherited retinal diseases, today announced the appointment of Glenn Sblendorio as Chairman of the Board, effective immediately. With more than 30 years of exemplary experience marked by extensive executive leadership in the ophthalmic industry, Mr. Sblendorio will support Nanoscope in reaching its strategic vision. In his new role as Chairman of the Board, Mr. Sblendorio will play a pivotal role in ensuring the effectiveness of the board of directors in implementing Nanoscope's organizational strategy and direction. His comprehensive understanding of finance and business development will assist in guiding Nanoscope through its mission to bring hope for renewed sight to millions of people affected by retinal degenerative diseases for which no cures currently exist. Mr. Sblendorio remarked on his appointment, "I am honored to join Nanoscope as Chairman of the Board. The company's commitment to advancing novel treatments for retinal degenerative diseases aligns with my passion for making a meaningful impact in the retina space. I look forward to working collaboratively with the board and leadership team to drive innovation and contribute to the realization of our shared mission." Most recently, Mr. Sblendorio held various key leadership roles at IVERIC bio, Inc., an Astellas Company (formerly Ophthotech Corporation), including CEO, President, and Director. He also served as EVP, COO, CFO and Treasurer. Additionally, he served as President, CFO and Director at The Medicines Company and as EVP and CFO at Eyetech Pharmaceuticals. Earlier in his career, Mr. Sblendorio was a Managing Director at MPM Capital Advisors, LLC, and held various senior financial positions at Hoffman-La Roche. Nanoscope CEO and Co-Founder Sulagna Bhattacharya expressed enthusiasm about the appointment, stating, "We are elated to welcome Glenn Sblendorio as our Chairman of the Board. His wealth of experience in building and scaling progressive companies, coupled with his thorough knowledge of successfully bringing retinal treatments to market, will undoubtedly strengthen Nanoscope's position as a leader in the ophthalmic industry. We look forward to leveraging his expertise as we navigate the next phases of our development." Mr. Sblendorio joins the company at a crucial time, and his appointment reflects Nanoscope's commitment to optimizing the impact of the board of directors by assembling a group of diverse and accomplished advisors to drive the organization's innovation and success. Nanoscope is dedicated to pioneering novel retinal solutions that make a lasting impact for patients and physicians. About Nanoscope Nanoscope Therapeutics is developing gene-agnostic, sight-restoring optogenetic therapies for the millions of patients blinded by inherited retinal diseases, for which no cure exists. The company's lead asset, MCO-010, recently reported topline results from the RESTORE Phase 2b multicenter, randomized, double-masked, sham-controlled clinical trial in the U.S. for retinitis pigmentosa (NCT04945772). The company has also recently completed the Phase 2 STARLIGHT trial of MCO-010 therapy in Stargardt patients (NCT05417126). MCO-010 has received FDA fast-track designations and FDA orphan drug designations for both retinitis pigmentosa and Stargardt. Preclinical assets include non-viral laser-delivered MCO-020 gene therapy for geographic atrophy. For media inquiries, please contact: Argot Partners 212-600-1902 [email protected] SOURCE Nanoscope Therapeutics