GrayBug appoints Dr. Gerald Cagle and Dr. Jeffrey Cleland to its Board of Directors


Ophthalmology Industry Pioneers with Expertise in Product Development and Extended Release Protein Drug Delivery Join GrayBug Board

BALTIMORE, MD (XXX April, 2014) -­‐ GrayBug, LLC, a company developing a continuum of proprietary controlled-­‐release drug delivery technologies for strategic partnership and its own therapeutic products for major ocular diseases announced today that Gerald Cagle, Ph.D., former Senior Vice President and     Chief Scientific Officer at Alcon Laboratories, and Jeff Cleland, Ph.D., current CEO of Versartis, Inc., have joined  GrayBug’s  Board  of Directors.

“I am delighted to welcome both Dr. Cagle and Dr. Cleland to our Board,” said Michael O’Rourke, President & CEO of GrayBug. “Their extensive wealth of product development and industry experience will be key to our success as we embark upon GrayBug’s next phase of growth.”

“Both Dr. Cagle’s and Dr. Cleland’s track records in the ophthalmology and drug delivery field will be invaluable additions to GrayBug as the company continues to develop innovative injectable delivery platforms and products to treat diseases that are leading causes of blindness,” said Chief Scientific Officer and GrayBug founder, Justin Hanes, Ph.D.

Dr. Cagle is a highly respected pharmaceutical executive with managerial, technical and business experience spanning over 35 years. Dr. Cagle served in key leadership roles for Alcon Laboratories Inc., including positions in clinical research, regulatory affairs, and product development. During the last 13 years at Alcon, he held the position of Senior Vice President and Chief Scientific Officer. While at Alcon, Dr. Cagle either directed or was a contributing author of numerous new drug applications (NDAs) and premarket approvals (PMAs), from which more than 100 new Alcon products were achieved. Dr. Cagle was previously Sr. Business Development advisor to GrayBug.

“I am delighted to join the GrayBug board and work with a pioneering team developing new ocular drug delivery technologies and products treating neovascular diseases and glaucoma that will offer significant advances for doctors, patients and payers“ said Dr. Cagle.

Dr. Cleland has 20 years of industry experience in research and development, including more than a decade at Genentech, Inc. where he served in product development and manufacturing roles. He held important leadership roles in the successful approval of two drugs, Herceptin® and Nutropin Depot®, as well as in early work on Lucentis®, Avastin®, and Omnitarg®. Previously, he held executive management positions at BaroFold, Novacea and Targesome, and has managed directly all aspects of pharmaceutical development and late-­stage research. His experience in start-­‐ups includes major roles in obtaining more than $350 M in capital at stages from Series A through D and exit via IPO including over $250 M in capital raised as CEO. At Versartis, he led one of top IPOs of all time in Biotech (VSAR).

“I am impressed with GrayBug’s technology and product development programs to deliver both small and large molecules, including proteins, aptamers and other biologics. I look forward to working with the GrayBug team to further advance their ophthalmic technologies and bring new therapeutic innovations to the market.” said Dr. Cleland.

About GrayBug

GrayBug® is developing a continuum of proprietary micro -­‐  and nanoparticle controlled release   technologies and implants for strategic partnership and its own therapeutic products for major ocular disease indications. GrayBug’s technologies were co-­‐developed by GrayBug founder, Justin Hanes, Ph.D., who is the Lewis J. Ort Professor of Ophthalmology at the Wilmer Eye Institute of the Johns Hopkins University School of Medicine, in collaboration with GrayBug co-founders, and leading ophthalmology clinician-‐scientists from the Wilmer Eye Institute, Peter A. Campochiaro, M.D. and Peter J. McDonnell, M.D. The technologies were licensed from the Johns Hopkins University. For more information, please visit www.graybug.com.

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