EYET Eyetech Pharmaceuticals (MM)

Award recognizes Macugen's breakthrough technology as the first anti- angiogenic treatment approved in ophthalmology and the first aptamer therapy approved by the FDA NEW YORK, Aug. 9 /PRNewswire-FirstCall/ -- Eyetech Pharmaceuticals, Inc. (NASDAQ:EYET) announced today that Macugen(R) (pegaptanib sodium injection) was named Innovative Pharmaceutical Product of the Year at the 2005 Pharmaceutical Achievement Awards. Macugen is the first and only FDA-approved treatment for all types of neovascular (wet) age-related macular degeneration (neovascular AMD) and the first ophthalmic treatment to specifically inhibit vascular endothelial growth factor (VEGF), an underlying cause of neovascular AMD. Macugen is also the first in a new class of drugs called aptamers, or chemically synthesized DNA or RNA molecules that function like antibodies and bind tightly to specific molecular targets, with demonstrated biological efficacy and desirable pharmacokinetic properties. (Logo: http://www.newscom.com/cgi-bin/prnh/20050407/EYETLOGO ) "This award acknowledges the breakthrough science behind anti-VEGF technology and recognizes Macugen, the first anti-angiogenic treatment approved in ophthalmology, as the beginning of a new era in treating neovascular AMD," said Judah Folkman, M.D., Julia Andrus Dyckman Professor of Pediatric Surgery at Children's Hospital in Boston and Harvard Medical School, and Pharmaceutical Achievement Awards 2005 Lifetime Achievement Award Honoree. "The evolution of anti-angiogenesis research from theory to therapy is great news for patients." At the Pharmaceutical Achievement Awards ceremony, Dr. Folkman was honored with the 2005 Lifetime Achievement Award. Dr. Folkman founded the field of angiogenesis research which has led to the application of VEGF inhibitors to treat diseases such as neovascular AMD, a leading cause of blindness. "We founded Eyetech because we were frustrated by the lack of effective therapies to help people threatened by the vision loss of this devastating disease, and we were convinced that anti-VEGF therapy addressed an underlying cause of neovascular AMD," said David R. Guyer, M.D., an ophthalmologist and Chief Executive Officer of Eyetech. "We are honored that Macugen has been awarded Innovative Product of the Year, and we are thrilled that retina specialists now have a safe and effective anti-VEGF aptamer to help their patients." The Pharmaceutical Achievement Awards recognize pharmaceutical and biotechnology industry accomplishments in the areas of science, business and corporate generosity. The Innovative Pharmaceutical Product Award is one of the awards in the Research and Development category of the program. Honorees are selected by an Executive Review Board made up of forty members from small and large pharmaceutical organizations, academic research laboratories, law firms and consulting organizations. For more information about the award program, visit http://www.pharmawards.com/. About Macugen Macugen is a pegylated anti-VEGF aptamer indicated in the United States for the treatment of neovascular AMD and is administered in a 0.3 mg dose once every six weeks by intravitreal injection. Macugen has a proven safety profile and has been effective in two pivotal studies conducted over two years. The favorable safety profile of Macugen has been maintained for two years in patients who participated in clinical trials and in tens of thousands of patients who are using the drug. Macugen is administered every six weeks by intravitreal injection. Please see complete prescribing information for Macugen at http://www.macugen.com/. Important Safety Information Macugen is indicated for the treatment of neovascular age-related macular degeneration. Macugen is contraindicated in patients with ocular or periocular infections. Intravitreal injections including those with Macugen have been associated with endophthalmitis. Proper aseptic injection technique -- which includes use of sterile gloves, a sterile drape, and a sterile eyelid speculum (or equivalent) -- should always be utilized when administering Macugen. In addition, patients should be monitored during the week following the injection to permit early treatment, should an infection occur. Increases in intraocular pressure (IOP) have been seen within 30 minutes of injection with Macugen. Therefore, IOP as well as the perfusion of the optic nerve head should be monitored and managed appropriately. Serious adverse events related to the injection procedure occurring in