Ophthotech Announces Election of Ian F. Smith, Vertex Executive Vice President and Chief Financial Officer, to Its Board of Directors
August 2, 2016
NEW YORK–(BUSINESS WIRE)– Ophthotech Corporation (Nasdaq:OPHT) today announced the election of Ian F. Smith, Executive Vice President and Chief Financial Officer of Vertex Pharmaceuticals, to its Board of Directors, effective immediately. Mr. Smith has also been elected the Chair of the Ophthotech Audit Committee.
Mr. Smith has more than 15 years of experience in the biopharmaceutical industry; he currently serves as Executive Vice President and Chief Financial Officer of Vertex Pharmaceuticals, a global biotechnology company that discovers, develops and commercializes innovative medicines. Mr. Smith holds responsibility for core functions at Vertex, including Finance and Accounting, Investor Relations, Corporate and Business Development, Global Information Systems and Worldwide Operations, and he is a member of the Executive Team. Prior to joining Vertex, Mr. Smith served as a partner in the Life Science and Technology Practice Group of Ernst & Young LLP, an accounting firm.
“We are excited to have attracted someone of Ian’s stature to join our Board of Directors,” stated David R. Guyer, M.D., Chief Executive Officer and Chairman of the Board of Ophthotech. “Ian’s outstanding and proven track record at Vertex and his financial, operations and commercial expertise will be beneficial to Ophthotech’s future growth.”
“Ophthotech is positioned to build on the strong momentum that it has established in the retina community,” stated Mr. Ian F. Smith. “I am delighted to be a part of this passionate and committed team whose goal is to develop science-driven breakthrough therapies. I look forward to working closely with the other board members and the management team.”
Mr. Smith is a member of the Board of Directors of both Acorda Therapeutics and Infinity Pharmaceuticals, and he chairs each company’s audit committee. Mr. Smith received a B.A. with honors in Accounting and Finance from Manchester Metropolitan University, and Mr. Smith is a current member of the American Institute of Certified Public Accountants, the Institute of Chartered Accountants of England and Wales.
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, and in combination with anti-VEGF therapy in wet AMD patients. For more information, please visit www.ophthotech.com.
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 the timing and progress of the Fovista® Phase 3 clinical program, including potential trial results, marketing approval and commercialization. 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.
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Kathy Galante, 212-845-8231
Vice President, Investor Relations and Corporate Communications
SmithSolve LLC on behalf of Ophthotech Corporation
Jennifer Devine, 973-442-1555 ext. 102
Source: Ophthotech Corporation
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