Founded in early 2000 and based in New York City, Eyetech Pharmaceuticals is a privately-held biopharmaceutical company formed to discover, develop and commercialize new drugs to reduce and prevent serious vision loss caused by eye disease and to develop new technologies to safely deliver drugs to the back of the eye.

Eyetech has brought together a world-class team of thought leaders in ophthalmology from medical centers such as The Harvard Medical School, Stanford, The University of Chicago, Johns Hopkins, New York University and Columbia University and experienced pharmaceutical industry executives.

In addition, the Company has entered into a number of collaborative arrangements with leading research institutions, such as the Massachusetts Eye and Ear Infirmary, a teaching affiliate of the Harvard Medical School. The Company has also in-licensed other promising compounds that are in development for treating diseases in the back of the eye.

Eyetech is currently conducting Phase II/III pivotal clinical trials in age-related macular degeneration (AMD) at over 100 of the world's leading medical centers. These clinical trials are to evaluate the safety and efficacy of Eyetech's lead product Macugen™ (pegaptanib sodium), an anti-VEGF aptamer.

AMD and diabetic macular edema (DME) are two of the leading causes of blindness in the adult population. Studies suggest that Vascular Endothelial Growth Factor (VEGF) causes the abnormal blood vessel growth and/or leakage that causes AMD and DME. Eyetech's anti-VEGF aptamer, Macugen™ (pegaptanib sodium),may inhibit the biological pathway that causes vision loss in AMD and DME. Macugen™ (pegaptanib sodium) may result in stabilized and/or better vision and an enhanced quality of life for patients suffering from AMD, DME and related retinal diseases.