BEDFORD, Mass.--(BUSINESS WIRE)--Ocular Therapeutix, Inc. (NASDAQ: OCUL), a biopharmaceutical company focused on the development, manufacturing and commercialization of innovative therapies for diseases and conditions of the eye, today announced that in line with Ocular’s strategic plan and growth objectives, Antony Mattessich will succeed Dr. Amar Sawhney as Chief Executive Officer, on or before September 30, 2017. Until that time, Dr. Sawhney will continue to serve as Chief Executive Officer and Chairman of the Board of Directors, and will then transition to an Executive Chairman role. As Executive Chairman, Dr. Sawhney will continue to devote substantial business time to Ocular Therapeutix. Mr. Mattessich has also been elected to the Company’s Board of Directors, effective immediately.
“I am tremendously excited to have Antony Mattessich join the Ocular Therapeutix team. Antony’s strong track record of commercial, operational and business development experience will build upon the research and development foundation established through the efforts of Ocular Therapeutix's founding team,” said Amar Sawhney, Ph.D., President, Chief Executive Officer and Chairman. “Antony has over 25 years of experience building, managing and growing global pharmaceutical organizations to large, successful companies and brands. We are fortunate to be able to attract someone of his caliber to lead Ocular. In my capacity as Executive Chairman of the Board, I will continue to provide Ocular Therapeutix with my input and expertise to facilitate continuity and a smooth transition as we head to this exciting new phase for the Company,” continued Dr. Sawhney.
Mr. Mattessich brings a wealth of experience to Ocular Therapeutix, having held leadership roles for a number of global pharmaceutical companies across the US, Europe and Asia, including Novartis, Bristol Meyers Squibb and Merck & Co. Over the course of his career, Mr. Mattessich has developed expertise across multiple disciplines, including general management, global marketing, new product planning, R&D and business development. Most recently, Mr. Mattessich was the Managing Director of one of the world’s largest privately-owned pharmaceutical companies, Mundipharma. Antony holds a Master’s Degree in International Affairs from Columbia University and a Bachelor of Arts from University of California, Berkeley.
“It is an exciting time to join Ocular Therapeutix,” stated Mr. Mattessich. “I believe the Company has tremendous potential and I look forward to applying my expertise to advancing Ocular’s robust pipeline of product candidates that the team has built under Amar’s guidance.”
To facilitate Mr. Mattessich’s election to the Board of Directors, James Garvey has resigned from the Board. Dr. Sawhney added, “As one of the earliest venture investors, we thank Jim for his many years of invaluable service on the Board of Directors.”
About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the development, manufacturing and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Ocular Therapeutix’s lead product candidate, DEXTENZA™ (dexamethasone insert) 0.4 mg for intracanalicular use has completed Phase 3 clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery. The FDA has accepted the Company’s NDA resubmission for DEXTENZA for the treatment of ocular pain following ophthalmic surgery and has established a PDUFA target action date of July 19, 2017. If approved, the Company intends to submit a supplement to its NDA for ocular inflammation. OTX-TP (travoprost insert) is in Phase 3 clinical development for glaucoma and ocular hypertension. Ocular Therapeutix is also evaluating injectable drug delivery depots for back-of-the-eye diseases. Ocular Therapeutix's first product, ReSure® Sealant, is FDA-approved to seal corneal incisions following cataract surgery.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for the Company including the development and regulatory status of the Company’s product candidates, such as the Company’s expectations and plans regarding regulatory submissions for and the timing and conduct of clinical trials of DEXTENZA™ for the treatment of post-surgical ocular inflammation and pain, including our expectations regarding the NDA filed with the FDA and the FDA’s response to the resubmitted NDA, and the potential impact of the re-inspection of manufacturing operations, DEXTENZA for the treatment of allergic conjunctivitis, DEXTENZA for the treatment of dry eye disease and OTX-TP for the treatment of glaucoma and ocular hypertension, the ongoing development of the Company’s sustained release hydrogel technology, the potential utility of any of the Company’s product candidates, potential commercialization of the Company’s product candidates, the timing of the Company’s CEO transition and 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, constitute forward-looking statements within the meaning of 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. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’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 timing and costs involved in commercializing ReSure® Sealant or any product candidate that receives regulatory approval, the initiation and conduct of clinical trials, availability of data from clinical trials and expectations for regulatory submissions and approvals, the Company’s scientific approach and general development progress, the availability or commercial potential of the Company’s product candidates, the sufficiency of cash resources and need for additional financing or other actions and other factors discussed in the “Risk Factors” section contained in the Company’s quarterly and annual reports on file with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this release. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, 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. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this release.