Perry J. Sternberg Joins Sydnexis as Chief Executive Officer

Accomplished Industry Leader Brings Extensive Commercialization and Ophthalmic Expertise

DEL MAR, Calif.--(BUSINESS WIRE)--Sydnexis, Inc., (www.sydnexis.com) a pre-commercial stage biopharmaceutical company focused on the treatment of progression of pediatric myopia, is excited to announce the appointment of Perry J. Sternberg as Chief Executive Officer and as a member of the Board of Directors. An accomplished pharma/biotech executive with over 30 years in the industry and 15 years in eye care, Perry will provide invaluable leadership experience to help guide Sydnexis’ strategic direction and next phase of growth.

“Perry’s appointment comes at a pivotal time for Sydnexis as we continue to advance our lead asset, SYD-101, to slow the progression of pediatric myopia and the risk of associated co-morbidities,” said Jeffry Weinhuff, Managing Partner at Visionary Venture Fund and Lead Board Director at Sydnexis. “Perry has deep expertise in commercialization of new therapies across diverse markets and extensive experience leading organizational growth and transformation. He will be a tremendous asset to Sydnexis.”

Perry brings to Sydnexis over 30 years of commercial leadership including oversight of more than 20 product launches across a wide range of therapeutic areas and markets. His tenure in eye care spans 15 years across Novartis, Bausch & Lomb, and Shire where he was responsible for the U.S. commercial organization and managing the company’s product portfolio in five franchises, which generated nearly $10 billion of revenue annually. Perry led the build-out of the Ophthalmic business unit and launch of Xiidra® in 2016, the first FDA-approved treatment for the signs and symptoms of dry eye disease. Perry was a key member of the leadership team responsible for the sale of Shire to Takeda in January 2019 at an aggregate value of more than $62 billion. Subsequently, the successful launch of Xiidra led to its sale by Takeda to Novartis in May 2019 in a transaction valued at greater than $5 billion.

“Progression of pediatric myopia is a global epidemic that poses significant risk for developing many irreversible, sight-threatening co-morbidities later in life,” said Richard Lindstrom, M.D., founder, director and attending surgeon at Minnesota Eye Consultants P.A. and member of the Sydnexis Board of Directors. “With the recent three-year readout of the primary and secondary endpoints of the Phase 3 STAR trial, I’m thrilled about Perry’s appointment as CEO and the bright future ahead for Sydnexis.”

“The Sydnexis team has an industry-leading track record in eye care. I am excited to join and work with Patrick Johnson, President, and the rest of the management team,” said Perry Sternberg. “Progression of pediatric myopia is a serious condition with significant, growing unmet need and no FDA-approved pharmacological treatment options. I look forward to collaborating with this talented team to bring such an innovative treatment option like SYD-101 to pediatric patients, their families, and clinicians.”

Perry Sternberg will join Sydnexis on August 5. Immediately prior to joining Sydnexis, Perry served as President and Chief Executive Office of Corium, LLC. He transformed the company from a transdermal contract manufacturing and development business (CDMO) to a market-leading commercial CNS (central nervous system) therapeutics company. Under his leadership, Corium received FDA approval for and commercially launched two novel CNS therapies, AZSTARYS® and ADLARITY®. Perry’s decades of industry experience have focused on exceeding the needs of customers and patients. A hallmark of his career is his proven ability to effectively lead teams and bring out their optimal performance while successfully managing significant change.

About Sydnexis Inc.:

Founded in 2014, Sydnexis Inc. (www.sydnexis.com) is a privately held, pre-commercial stage biopharmaceutical company based in San Diego, California. Sydnexis recently unblinded data related to its three-year primary and secondary endpoints in the pivotal Phase 3 clinical trial (The STAR Study) evaluating its proprietary atropine formulation to slow the progression of pediatric myopia. The Phase 3 clinical trial is now completing the fourth year blinded and randomized withdrawal for exploratory endpoints. Myopia is the most common eye disease in children and has experienced a dramatic increase in prevalence over the last 30 years. Once considered a benign refractive condition, even at low levels, myopia is now associated with many serious irreversible sight-threatening co-morbidities later in life. The company is venture backed by five major investors: RA Capital, Longitude Capital, Visionary Ventures, Bluestem Capital, and Medixci.