Australian-based Opthea Limited announced three updates to its executive leadership.
Refresh me on this company.
Opthea is a biopharmaceutical company focused on developing novel therapies for treating retinal diseases such as wet age-related macular degeneration (AMD) and diabetic macular edema (DME).
Its lead candidate, OPT-302 (sozinibercept), is the first anti-vascular endothelial growth factor (VEGF) “trap” agent designed specifically for the eye.
Give me more on OPT-302.
The candidate binds and sequesters both VEGF-C and VEGF-D, which then prevents the activation of VEGF receptors 2 and 3.
Combining OPT-302 with ranibizumab, an anti-VEGF therapy, could lead to potentially better anatomic and visual outcomes.
Click here for details on its clinical progress, which includes phase 2b data (released back in February 2023) based on its administration with Lucentis (Genentech) for wet AMD.
Now back to these executives ... what’s new?
First and foremost, Opthea’s CEO Megan Baldwin, PhD, is transitioning to founder and chief innovation officer (CIO) as a reflection of “the company’s strategy to advance its U.S. and global presence and commercialization of [OPT-302].”
After originally joining the company in 2008, Dr. Baldwin has served as CEO since 2014. She will remain on the company’s board of directors, according to Opthea.
So who’s replacing her?
U.S.-based executive Fred Guerard, PharmD, is taking over as CEO.
Guerard is a 25-year veteran of the pharmaceutical industry, having most recently served as CEO of Graybug Vision, Inc., where he led the clinical development of the company’s late-stage wet AMD candidate and its merger with CalciMedica, Inc, according to Opthea.
Prior to that, he held numerous global leadership roles at Novartis, where he led clinical acceleration of various pipeline products, ands at Alcon.
To note, Guerard remains a non-executive Board member at CalciMedica.
Any other new execs to know about?
Yup! Opthea named its new chief financial officer (CFO): Peter Lang.
Lang brings 25 years of experience on the strategy, operations, and financial solutions side of the healthcare and pharmaceutical sectors, according to Opthea.
He most recently served as CFO at Aerie Pharmaceuticals, Inc..
Lastly, when are these new roles effective?
Per Opthea, immediately.