GAINESVILLE, Fla. and CAMBRIDGE, Mass., Sept. 05, 2017 (GLOBE NEWSWIRE) -- Applied Genetic Technologies Corporation (NASDAQ:AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, today announced the appointment of Matthew Feinsod, M.D. as Interim Chief Medical Officer. Dr. Feinsod, who previously served as AGTC's Product Development Officer, will replace Michael Goldstein, M.D. who is leaving to pursue other career opportunities.
Dr. Feinsod, a board-certified ophthalmologist, joined AGTC in July 2014. In his previous positions he played key roles in developing and implementing clinical and regulatory strategy, due diligence and licensing. He holds multiple patents in the field of ophthalmology, and has been a founder in several companies, including Imagen Biotech, a venture-backed company dedicated to developing breakthrough ophthalmology treatments for sight-threatening diseases with high unmet medical needs. Prior to Imagen, Dr. Feinsod was Senior Vice President of Strategy and Product Development at Eyetech Pharmaceuticals where he spent five years in a variety of functions helping to develop and launch Macugen. He received his undergraduate degree from the Wharton School of Business, earned his medical degree from the George Washington University School of Medicine and completed his residency at the Manhattan Eye, Ear and Throat Hospital. Dr. Feinsod also served as a medical officer in the ophthalmology division of the U.S. Food and Drug Administration, reviewing product applications under the direction of Wiley Chambers, M.D.
Dr. Feinsod will be supported by AGTC's experienced clinical team, including Jeffrey Chulay, M.D., DTM&H, Executive Director, Clinical Strategy and past CMO, and Rabia Ozden, M.D., V.P. Clinical Research and Development, to assure continued progress in its product development efforts.
AGTC is a clinical-stage biotechnology company that uses its proprietary gene therapy platform to develop products designed to transform the lives of patients with severe diseases, with an initial focus in ophthalmology. AGTC's product pipeline includes ophthalmology programs in X-linked retinoschisis (XLRS), X-linked retinitis pigmentosa (XLRP), achromatopsia, wet age-related macular degeneration, and an optogenetics program with Bionic Sight. AGTC's non-ophthalmology programs include adrenoleukodystrophy and an otology program, which is in pre-clinical development, and the company expects to advance several otology product candidates into clinical development in the next few years. Each of AGTC's XLRS, XLRP and adrenoleukodystrophy programs is part of its collaboration and license agreement with Biogen. AGTC employs a highly-targeted approach to selecting and designing its product candidates, choosing to develop therapies for indications having high unmet medical need that it believes are clinically feasible and present commercial opportunities. AGTC has a significant intellectual property portfolio and extensive expertise in the design of gene therapy products including capsids, promoters and expression cassettes, as well as expertise in the formulation, manufacture and physical delivery of gene therapy products.
Forward Looking Statements
This release contains forward-looking statements that reflect AGTC's plans, estimates, assumptions and beliefs. Forward-looking statements include information concerning possible or assumed future results of operations, business strategies and operations, preclinical and clinical product development and regulatory progress, potential growth opportunities, potential market opportunities and the effects of competition. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipates," "believes," "could," "seeks," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" or similar expressions and the negatives of those terms. Actual results could differ materially from those discussed in the forward-looking statements, due to a number of important factors. Risks and uncertainties that may cause actual results to differ materially include, among others: no gene therapy products have been approved in the United States and only two such products have been approved in Europe; AGTC cannot predict when or if it will obtain regulatory approval to commercialize a product candidate; uncertainty inherent in the regulatory review process; risks and uncertainties associated with drug development and commercialization; factors that could cause actual results to differ materially from those described in the forward-looking statements are set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016, as updated by the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2017, as filed with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent management's plans, estimates, assumptions and beliefs only as of the date of this release. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
IR/PR CONTACTS: David Carey (IR) or Tom Vickery (PR) Lazar Partners Ltd. T: (212) 867-1768 or (646) 871-8482 firstname.lastname@example.org or email@example.com CORPORATE CONTACTS: Bill Sullivan Chief Financial Officer Applied Genetic Technologies Corporation T: (617) 843-5728 firstname.lastname@example.org Stephen Potter Chief Business Officer Applied Genetic Technologies Corporation T: (617) 413-2754