EYETECH PHARMACEUTICALS ENTERS DEAL FOR XALATAN, WORLD’S TOP-SELLING OPHTHALMIC MEDICATION
Eyetech Pharmaceuticals, Inc.  Tuesday, April 22, 2003

NEW YORK, NY, April 22, 2003 — Eyetech Pharmaceuticals, Inc. today announced it has entered into an agreement with Pfizer Inc. in which Eyetech’s sales force will participate in selling XALATAN(R) (latanoprost ophthalmic solution), Pfizer’s once-daily prescription eye drop, to ophthalmologists and retinal specialists in the United States. XALATAN is the world’s top-selling glaucoma medication and the first and only prostaglandin with a first-line indication for the treatment of elevated eye pressure (intraocular pressure or IOP) in the U.S. and Europe. Further terms of the deal were not disclosed.

“This agreement is particularly significant for Eyetech because it will allow us to accelerate building a top-notch, specialty field force organization in advance of potential commercialization of our lead product, Macugen (pegaptanib sodium)” said Dr. David Guyer, Eyetech Pharmaceuticals’ co-founder and chief executive officer.

Previously, in December 2002 Pfizer and Eyetech announced a collaboration to jointly develop and commercialize Eyetech’s Macugen(TM) (pegaptanib sodium), a potential treatment for age-related macular degeneration (AMD) and diabetic macular edema (DME), both leading causes of blindness. The two companies are currently supporting the largest Phase III development program for wet AMD, involving nearly 1,200 patients at 117 investigational sites in the United States, Canada, South America, Europe, Israel and Australia.

Eyetech Pharmaceuticals (http://www.eyetk.com) is dedicated to the discovery, development and commercialization of novel therapeutics and delivery systems to combat the vision loss associated with ophthalmic diseases. Founded in 2000, the privately-held, New York City-based company is focused on meeting the unmet medical needs of patients with diseases that affect the back of the eye. Its investors include partners and affiliates of JP Morgan Partners, BB Biotech, MPM Capital, Alta Partners, Schroeder Ventures, Life Sciences and International BioTechnology Trust plc, and Merrill Lynch KeCalp.

Pfizer Inc discovers, develops, manufactures and markets leading prescription medicines, for humans and animals, and many of the world’s best-known consumer brands.

DISCLOSURE NOTICE: The information contained in this document is as of April 22, 2003. Pfizer assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments.

This document contains forward-looking information about a product in development that involves inherent uncertainties. The success of this research and development project and the speed with which regulatory authorizations and the launch of the product may be achieved, as well as competitive factors, could affect the actual outcome of this collaboration.

A further list and description of the risks, uncertainties and other matters that could cause the Pfizer’s description contained herein to differ materially can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2001, and in its periodic reports on Forms 10-Q and 8-K (if any).

CONTACT:

Justin Jackson

212-213-0006

Burns McClellan on behalf of Eyetech Pharmaceuticals

EYETECH PHARMACEUTICALS TO PRESENT AT THE JP MORGAN 21ST ANNUAL HEALTHCARE CONFERENCE
 Wednesday, January 08, 2003

NEWS RELEASE

EYETECH PHARMACEUTICALS TO PRESENT AT THE JP MORGAN 21ST ANNUAL HEALTHCARE CONFERENCE

New York, January 6, 2003 – Eyetech Pharmaceuticals, Inc., a privately held biotechnology company dedicated to the discovery, development and commercialization of novel drugs for the treatment of eye disease, today announced that David Guyer, M.D., the Company’s co-founder and chief executive officer, will present at the 21st Annual J.P. Morgan Healthcare Conference at 3pm PST, Monday, January 6th.

The presentation will discuss Eyetech’s lead compound Macugen(TM) (pegaptanib sodium), which is in a fully-enrolled Phase III development program for the treatment of age-related macular degeneration (AMD). A Phase II trial of Macugen(TM) is also ongoing for the treatment of diabetic macular edema (DME). Eyetech will also discuss its recent collaboration with Pfizer to co-develop and commercialize Macugen(TM).

Under terms of the deal, which is subject to government approval, Pfizer will make initial payments of $100 million, with the potential for an additional $195 million in milestone payments based on worldwide regulatory submission and approvals. Eyetech also has the potential to receive up to an additional $450 million in milestone payments, which is contingent upon successful commercialization of Macugen(TM) and attainment of agreed-upon sales levels.

Pfizer will also fund the majority of the ongoing development costs for both the AMD and DME indications. Further, if approved, Macugen(TM) will be co-promoted by Eyetech and Pfizer in the U.S. where Eyetech will have an ophthalmology sales force and record sales. Outside of the U.S., Pfizer will market the product exclusively under a royalty-bearing license.

The U.S. Food and Drug Administration has granted Macugen(TM) “fast-track” status for the treatment of AMD as well as for DME, both leading causes of blindness.

“We are excited to partner with the world’s leading pharmaceutical company to bring a potentially innovative therapy to so many patients who are at risk of losing their sight,” said Dr. David Guyer, Eyetech Pharmaceuticals’ chief executive officer.

Eyetech Pharmaceuticals (http://www.eyetk.com) is dedicated to the discovery, development and commercialization of novel therapeutics and delivery systems to combat the vision loss associated with ophthalmic diseases. Founded in 2000, the privately-held, New York City-based company is focused on meeting the medical needs of patients with diseases that affect the back of the eye. Its investors include partners and affiliates of JP Morgan Partners, BB Biotech, MPM Capital, Alta Partners, Schroder Ventures Life Sciences and International BioTechnology Trust plc, and Merrill Lynch Ventures.

CONTACT:

Justin Jackson

212-213-0006

Burns McClellan on behalf of Eyetech Pharmaceuticals

PFIZER, EYETECH PHARMACEUTICALS ENTER GLOBAL COLLABORATION FOR POTENTIAL TREATMENT FOR BLINDNESS
New York, NY, December 18, 2002  Wednesday, December 18, 2002

PFIZER, EYETECH PHARMACEUTICALS ENTER GLOBAL COLLABORATION

FOR POTENTIAL TREATMENT FOR BLINDNESS

New York, NY, December 18, 2002 - Pfizer Inc and Eyetech Pharmaceuticals, Inc. today announced they have entered into an agreement to jointly develop and commercialize Eyetech’s Macugen™ (pegaptanib sodium), a potential treatment for age-related macular degeneration (AMD) and diabetic macular edema (DME), both leading causes of blindness.

Under terms of the deal, which is subject to government approval, Pfizer will make initial payments of $100 million, with the potential for an additional $195 million in milestone payments based on worldwide regulatory submission and approvals. Eyetech also has the potential to receive up to an additional $450 million in milestone payments, which are contingent upon successful commercialization of Macugen™ and based on attainment of agreed-upon sales levels.

Pfizer will also fund the majority of the ongoing development costs for both the AMD and DME indications. Further, if approved, Macugen™ will be co-promoted by Eyetech and Pfizer in the United States where Eyetech will have an ophthalmology sales force and record sales. Outside of the United States, Pfizer will market the product exclusively under a royalty-bearing license. Additional payments are subject to worldwide Macugen™ sales. Further terms of the deal were not disclosed.

”This is a landmark accomplishment for a young biotechnology company. We are excited to partner with the world’s leading pharmaceutical company to bring a potentially innovative therapy to so many patients who are at risk of losing their sight,” said Dr. David Guyer, Eyetech Pharmaceuticals’ co-founder and chief executive officer.

The U.S. Food and Drug Administration has granted Macugen™ “fast-track” status for the treatment of exudative, or “wet” form of AMD as well as for DME because of the product’s expected potential to fulfill a significant unmet medical need.

“We are very pleased to partner with Eyetech on what we believe will be a breakthrough treatment for a devastating medical condition,” said Pfizer President Karen Katen. “As the world’s population ages, there will be an increasing number of people at risk for macular degeneration.”

Administered by intravitreal injection, Macugen™ is an aptamer that selectively binds to and neutralizes Vascular Endothelial Growth Factor (VEGF). In early clinical studies, Macugen™ was shown to inhibit abnormal blood vessel growth and stabilize and/or reverse blood vessel leakage in the back of the eye resulting in improved vision by three lines or more on standard eye charts in 26 percent of patients.

Eyetech’s Phase III development program for wet AMD involves nearly 1,200 patients at 117 investigational sites in the United States, Canada, South America, Europe, Israel and Australia, the largest clinical development program of its kind. Macugen™ is being developed as monotherapy as well as in combination with photodynamic therapy.

Wet Age-related Macular Degeneration (AMD)

The leading cause of irreversible vision loss among Americans over the age of 55, AMD occurs in two different forms: dry AMD and wet AMD. The wet form accounts for approximately 200,000 new cases annually, with a prevalence of 1.2 million cases in the United States alone.

Wet AMD is characterized by the growth of abnormal blood vessels into the area beneath the retina. This process, known as angiogenesis or neovascularization, results in fragile blood vessels that leak fluid and blood into the macula, the portion of the retina responsible for central vision. This leakage damages the area and results in a rapid loss of central vision, which is critical for tasks such as reading, driving, watching television and recognizing faces.

Laser photocoagulation and photodynamic therapy are the only current treatments for certain types of patients.

Diabetic Macular Edema (DME)

DME affects roughly 135,000 Americans with diabetes each year and is the leading cause of blindness in adults under the age of 55. The decreased vision that characterizes DME results from fluid and lipids leaking from retinal blood vessels.

Eyetech Pharmaceuticals (www.eyetk.com) is dedicated to the discovery, development and commercialization of novel therapeutics and delivery systems to combat the vision loss associated with ophthalmic diseases. Founded in 2000, the privately-held, New York City-based company is focused on meeting the medical needs of patients with diseases that affect the back of the eye. Its investors include partners and affiliates of JP Morgan Partners, BB Biotech, MPM Capital, Alta Partners, Schroder Ventures Life Sciences and International BioTechnology Trust plc, and Merrill Lynch KeCalp.

Pfizer Inc discovers, develops, manufactures and markets leading prescription medicines, for humans and animals, and many of the world's best-known consumer brands.

# # #

DISCLOSURE NOTICE: The information contained in this document is as of ---December 18, 2002. Pfizer assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments.

This document contains forward-looking information about a product in development that involves inherent uncertainties. The success of this research and development project and the speed with which regulatory authorizations and the launch of the product may be achieved, as well as competitive factors, could affect the actual outcome of this collaboration.

A further list and description of the risks, uncertainties and other matters that could cause the Pfizer’s description contained herein to differ materially can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2001, and in its periodic reports on Forms 10-Q and 8-K (if any).

Contact:

Justin Jackson

Burns McClellan for Eyetech Pharmaceuticals

212-213-0006

Eyetech Pharmaceuticals Names Charles Williams as Senior Vice President, Manufacturing
New York, November 15—Eyetech Pharmaceuticals, Inc  Tuesday, November 26, 2002

Eyetech Pharmaceuticals Names Charles Williams as Senior Vice President, Manufacturing

New York, November 15—Eyetech Pharmaceuticals, Inc., a privately held biotechnology company dedicated to the discovery, development and commercialization of novel drugs for the treatment of eye disease, today announced the appointment of Mr. Charles Williams as Senior Vice President, Manufacturing. In his new position, Mr. Williams will be responsible for oversight of manufacturing, process technology and quality control functions pursuant to an anticipated launch and commercialization of Eyetech’s lead compound, Macugen™ (pegaptanib sodium).

Eyetech Pharmaceuticals recently announced completion of enrollment in two pivotal Phase III trials of Macugen for the treatment of exudative (wet) age-related macular degeneration (AMD), the leading cause of blindness among Americans over the age of 55. Eyetech is developing Macugen, an aptamer that binds to and neutralizes Vascular Endothelial Growth Factor (VEGF), alone and in combination with photodynamic therapy (PDT) for patients eligible for PDT. The FDA granted Macugen “fast-track” designation for the treatment of exudative AMD as well as diabetic macular edema (DME) because of the product’s potential to fulfill an unmet medical need.

Dr. David Guyer, Eyetech Pharmaceuticals’ co-founder and CEO, commented, “Chuck Williams is an important addition to the Eyetech team, and his talents will be especially critical as we progress through the current registration studies towards NDA submission for Macugen. Chuck’s background in manufacturing operations is exemplary, and we are very pleased to welcome him to the team.” Mr. Williams will serve on the Company’s Executive Committee.

“Eyetech has one of the most exciting products in late-stage testing and has put in place one of the most sophisticated operations to produce quantities of drug sufficient for clinical testing,” said Mr. Williams. “I’m very excited to be able to assist Eyetech in their quest to become a fully integrated biotechnology company and build the necessary infrastructure in support of the company’s first submission to the FDA.”

Mr. Williams has more than 28 years’ experience in manufacturing operations for the life sciences industry. At Cohesion Technologies, he helped lead the company through FDA approval and launch of its first proprietary product for vascular reconstruction surgery. He has also recently managed facility start-up through licensure for Amgen’s manufacture of Enbrel® on the East Coast.

Mr. Williams has also held the position of Vice President, Operations at Fusion Medical Technologies, and Senior Director of Operations at Genetics Institute (GI). He managed the construction, start-up and validation of a biopharmaceutical manufacturing operation at GI, leading efforts related to two important products, including GI’s first-generation recombinant factor VIII product.

Prior to this, at Collagen Corporation, Mr. Williams held senior management positions including Vice President, Operations and Vice President, Manufacturing. During his tenure at Collagen, he was responsible for all operations and process development. Mr. Williams also worked for nine years at Squibb Pharmaceuticals, attaining the position of Manager of Parenteral Manufacturing, United States.

Mr. Williams received his BS degree in Chemical Engineering from the University of Tennessee and graduated from the executive MBA program from Stanford University.

About Eyetech Pharmaceuticals

Eyetech Pharmaceuticals, Inc., is a privately held, New York City-based biopharmaceutical company dedicated to the discovery, development and commercialization of novel drugs to reduce and prevent vision loss caused by eye diseases. Eyetech is also focused on developing new technologies to deliver drugs safely to the back of the eye. The Company has brought together experienced pharmaceutical industry executives and a world-class team of thought leaders in ophthalmology from leading medical centers, such as Harvard, Stanford, University of Chicago, Johns Hopkins, NYU and Columbia.

Contacts:

Justin Jackson

Burns McClellan for Eyetech Pharmaceuticals

212-213-0006

Arda Ural Appointed Head of Marketing and Sales at Eyetech Pharmaceuticals
Burns McClellan for Eyetech Pharmaceuticals  Friday, November 15, 2002

NEWS RELEASE

Arda Ural Appointed Head of Marketing and Sales at Eyetech Pharmaceuticals

New York, November 15—Eyetech Pharmaceuticals, Inc., a privately held biotechnology company dedicated to the discovery, development and commercialization of novel drugs for the treatment of eye disease, today announced the appointment of Mr. Arda Ural as Senior Vice President, Marketing and Sales. Mr. Ural’s team will be responsible for the launch and commercialization of Eyetech’s lead compound, Macugen™ (pegaptanib sodium) pending the successful completion of Phase III clinical trials and FDA’s approval.

Eyetech Pharmaceuticals recently announced completion of enrollment in two pivotal Phase III trials of Macugen for the treatment of exudative (wet) age-related macular degeneration (AMD), the leading cause of blindness among Americans over the age of 55. Eyetech is developing Macugen, an aptamer that binds to and neutralizes Vascular Endothelial Growth Factor (VEGF), alone and in combination with photodynamic therapy (PDT) for patients eligible for PDT. The FDA granted Macugen “fast-track” designation for the treatment of exudative AMD as well as diabetic macular edema (DME) because of the product’s potential to fulfill an unmet medical need.

According to Eyetech Pharmaceuticals co-founder and CEO, Dr. David Guyer, “The Company’s progress in clinical testing and Macugen’s ‘fast-track’ designation necessitate that we rapidly build an experienced and strategically focused marketing and sales organization.” Dr. Guyer commented further, “Arda has had a distinguished career in the commercialization of some of the world’s best-known pharmaceutical products including Viagra® and Celebrex®. He has also demonstrated superior team-building capabilities, and we are very pleased to welcome him to our team.” Mr. Ural will serve on the Company’s Executive Committee.

“This is an exciting time for Eyetech, which is gaining increased momentum and recognition for its efforts to discover and develop breakthrough sight-saving therapeutics,” said Mr. Ural. “I look forward to the opportunity to develop a high-performing team to introduce the first of many breakthrough products that can benefit major segments of the population which are currently underserved.”

During his pharmaceutical career stretching over ten years, Mr. Ural has spearheaded marketing, sales and business development initiatives in the United States and globally. Most recently, Mr. Ural was Pfizer’s Team Leader for Celebrex in the United States and was responsible for worldwide consumer promotion efforts for both Celebrex and Bextra®, Pfizer’s recently launched COX-2 inhibitor.

Mr. Ural has BSc and MSc degrees in Mechanical Engineering from Bosporus University in Istanbul, Turkey where he had taught material science prior to joining Pfizer in 1992. He also has an MBA degree from Marmara University in Istanbul, and completed Harvard Business School’s Executive Development Program.

About Eyetech Pharmaceuticals

Eyetech Pharmaceuticals, Inc. is a privately held, New York City-based biopharmaceutical company dedicated to the discovery, development and commercialization of novel drugs to reduce and prevent vision loss caused by eye diseases. Eyetech is also focused on developing new technologies to deliver drugs safely to the back of the eye. The Company has brought together experienced pharmaceutical industry executives and a world-class team of thought leaders in ophthalmology from leading medical centers such as Harvard, Stanford, University of Chicago, Johns Hopkins, NYU and Columbia.

Contact:

Justin Jackson

Burns McClellan for Eyetech Pharmaceuticals

212-213-0006

Eyetech Completes Patient Enrollment For Two Pivotal Phase III Clinical Trials For Macular Degeneration - Early Completion of Patient Enrollment Triggers $54.2 Million in Funding
Eyetech Pharmaceuticals Wednesday, August 7, 2002  Wednesday, August 07, 2002

New York, NY. August 7, 2002 - Eyetech Pharmaceuticals, Inc., a private biotechnology company focused on the treatment of eye diseases, today announced the early completion of enrollment in two pivotal Phase III trials of Macugen™ (pegaptanib sodium) for the treatment of exudative (wet) age-related macular degeneration (AMD), the leading cause of blindness among Americans over the age of 55. Eyetech enrolled 1,196 patients in the Company’s pivotal clinical trials for treating wet AMD, which constitute the largest clinical trial program for wet AMD enrolled to date. By reaching this milestone, the Company received $54.2 million from its Series C investors, representing the second installment of a total in excess of $108 million raised in July 2001.

The clinical trials are being conducted at 117 investigational sites throughout the world to measure vision stabilization and/or improvement associated with Macugen™ (pegaptanib sodium), an aptamer which binds to and neutralizes Vascular Endothelial Growth Factor (VEGF), as a stand-alone treatment, as well as in combination with photodynamic therapy (PDT) for patients eligible for PDT. Eyetech’s clinical sites are located in the United States, Canada, South America, Europe, Israel and Australia. The United States Food and Drug Administration (FDA) has granted Macugen™ (pegaptanib sodium) “fast-track” designation for the treatment of exudative (wet) AMD and diabetic macular edema (DME) because of the potential of Macugen™ (pegaptanib sodium) to meet an unmet medical need. Eyetech is also conducting Phase II clinical trials with Macugen™ (pegaptanib sodium) for the treatment of DME.

“We are pleased at having reached this critical enrollment milestone, well ahead of our previously announced target date,” said Eyetech’s Co-Founder and Chief Executive Officer, David Guyer, M.D. “We are gratified by the high level of enthusiasm and interest among physicians and patients participating in our clinical trials, which is reflected in the rapid enrollment rate. We look forward to completing clinical development of Macugen™ (pegaptanib sodium) and bringing this important product to market to help fight blindness.”

"The swiftness with which these trials were enrolled demonstrates a substantial commitment to developing ground-breaking treatments for AMD patients who currently have limited options for treating this disease," said Morton F. Goldberg, M.D., Professor and Chairman of the Department of Ophthalmology at the Johns Hopkins University School of Medicine, Director of the Wilmer Opthalmological Institute, and a member of Eyetech’s Scientific Advisory Board.

ABOUT Macugen™ (pegaptanib sodium)

Macugen™ (pegaptanib sodium), formerly known as EYE001, is Eyetech Pharmaceuticals’ lead product candidate. The Company acquired the worldwide rights for this anti-VEGF aptamer from Gilead Sciences in March 2000. Currently being investigated as a treatment for exudative (wet) age-related macular degeneration (AMD) and diabetic macular edema (DME), the two leading causes of blindness in the adult population, Macugen™ (pegaptanib sodium) has shown in early clinical trials the ability to inhibit blood vessel growth and stabilize and/or reverse blood vessel leakage and improve vision by 3 lines or more in 26% of patients.

ABOUT WET AMD

The leading cause of irreversible vision loss among Americans over the age of 55, AMD occurs in two different forms: dry AMD and wet AMD. The wet form accounts for 200,000 new cases of bleeding per year with a prevalence of 1.2 million cases in the U.S. alone.

Wet AMD is characterized by the proliferation of abnormal blood vessels into the area beneath the retina. This process, known as angiogenesis or neovascularization, results in fragile blood vessels that leak fluid and blood into the macula, causing damage to the area and resulting in a rapid loss of central vision, which is critical for tasks such as reading, driving, watching television and recognizing faces.

ABOUT DME

The US Centers for Disease Control and Prevention (CDC) estimate that 11 million Americans have diagnosed diabetes, while an additional 6 million have diabetes that has not been diagnosed. DME, which affects approximately 135,000 Americans each year, is the largest cause of blindness-related lost income in working-age adults and is the leading cause of blindness in adults under the age of 55. Decreased vision is the main symptom and results from fluid and lipid leaking from retinal blood vessels. Laser photocoagulation is the only currently recognized therapy, but is not effective in improving visual acuity in most patients with this disorder.

ABOUT EYETECH

Eyetech Pharmaceuticals, Inc., is a privately-held, New York City-based biopharmaceutical company dedicated to development and commercialization of novel drugs to reduce and prevent vision loss caused by eye diseases. Eyetech is also focused on developing new technologies to deliver drugs safely to the back of the eye. The Company has brought together experienced pharmaceutical industry executives and a world-class team of thought-leaders in ophthalmology from leading medical centers and medical schools, such as Harvard Medical School, Stanford, the University of Chicago, Johns Hopkins and Columbia, to build a pre-eminent ophthalmics company.

Contacts:

Burns McClellan, Inc.

Justin Jackson 212 213 0006

Dr. Anthony P. Adamis Joins Eyetech Pharmaceuticals to Lead Research Team
Eyetech Pharmaceuticals  Tuesday, June 25, 2002

New York, NY. June 25, 2002 - Eyetech Pharmaceuticals, Inc., a privately-held biotechnology company dedicated to the development and commercialization of novel drugs for the treatment of eye disease, today announced that Harvard Medical School Associate Professor, Dr. Anthony P. Adamis, will join Eyetech as Senior Vice President of Research and Chief Scientific Officer, effective July 1, 2002. Dr. Adamis, 43, has been affiliated with Eyetech since its inception in April 2000, as a member of its Scientific Advisory Board and as Director of Pre-clinical Research.

Eyetech co-founder and CEO, Dr. David Guyer, stated that Dr. Adamis will be responsible for the discovery and development of new proprietary compounds that the company expects will contribute to an extensive pre-clinical product pipeline for future investigation. Dr. Adamis will be responsible for overseeing a team of 20 researchers in laboratories located in the Boston area.

"The addition of Dr. Adamis to our management and research teams further validates the promising research and development being conducted at Eyetech to address unmet medical needs in the area of ocular vascular disease," said Dr. Guyer. "Dr. Adamis' wealth of knowledge and experience will provide invaluable synergies to our mission of reducing and preventing vision loss related to eye disease. We look forward to Dr. Adamis' immediate contribution to the enhancement of our product pipeline and the identification of promising compounds to take into our clinical trial programs."

Prior to joining Eyetech, Dr. Adamis was an Associate Professor of Ophthalmology at the Harvard Medical School and served as a Principal Investigator and Co-Director of the Retina Research Institute for Diabetic Retinopathy and Macular Degeneration at Massachusetts Eye and Ear Infirmary, a teaching affiliate of Harvard Medical School. Dr. Adamis' affiliation with these institutions dates back to 1989, when he began his clinical and research fellowships at the Massachusetts Eye and Ear Infirmary. Dr. Adamis also completed a vascular biology fellowship with Dr. Judah Folkman at the Children's Hospital of Boston and later served as a Principal Investigator in the Surgical Research Laboratory at Children's Hospital.

A leading expert on ocular vascular disease and ocular drug delivery, Dr. Adamis is best known for his co-discovery of the role that vascular endothelial growth factor (VEGF) plays in neovascularization and vascular permeability related to various diseases of the eye. His findings sparked important research advances in the treatment of such conditions as macular degeneration and diabetic retinopathy and continue to shape the course of research in these areas today.

"I am excited at the prospect of working at Eyetech Pharmaceuticals which is at the forefront of discovering and developing sight-saving therapeutics," said Dr. Adamis. "Eyetech possesses a pipeline with extraordinary potential and I am eager to play a vital role in shaping that potential into needed therapeutic treatments."

Eyetech Pharmaceuticals, Inc., is a privately-held, New York City-based biopharmaceutical company dedicated to development and commercialization of novel drugs to reduce and prevent vision loss caused by eye disease. Eyetech is also focused on developing new technologies to deliver drugs safely to the back of the eye. The company has brought together experienced pharmaceutical industry executives and a world-class team of thought-leaders in ophthalmology from leading medical centers and medical schools, such as Harvard Medical School, Stanford, the University of Chicago, Johns Hopkins and Columbia, to build a pipeline of drug candidates to address significant unmet medical needs related to various diseases of the eye.

Eyetech Pharmaceuticals Raises $108.5 Million Through Private Equity Placement
 Tuesday, August 07, 2001

New York, NY —Eyetech Pharmaceuticals, Inc., a privately-held biotechnology company dedicated to discovering, developing and commercializing novel drugs to reduce and prevent vision loss caused by eye disease, announced today that it recently closed a $108.5 million placement of its Series C Preferred Stock to a group of biotechnology and health care institutional investors led by JP Morgan Partners, LLC. Other investors include partners and affiliates of BB Biotech, MPM Capital, Alta Partners, Schroder Ventures, and Merrill Lynch. Eyetech’s Series C financing is one of the largest private financing rounds ever raised by a biotechnology company.

Eyetech is currently conducting Phase II/Phase III pivotal clinical trials in age-related macular degeneration (AMD) at 120 of the world’s leading medical centers. The financing proceeds will be used to fund the AMD clinical trials and to evaluate the safety and efficiency of Eyetech’s lead product, an anti-VEGF aptamer, to treat diabetic macular edema (DME).

AMD and 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 leakage that result in AMD and DME. Eyetech’s compound may also result in improved vision and an enhanced quality of life for patients suffering from AMD, DME and related retinal diseases.

“The Series C Financing represents a strong vote of confidence in Eyetech’s management team and a validation of its lead compound by a group of world-class investors,” said David Guyer, M.D., Eyetech’s Chief Executive Officer and a leading retinal specialist.

“We are pleased to lead this round of financing for Eyetech and look forward to working with Eyetech’s management team as it builds a leading company in the ophthalmic pharmaceuticals market,” said Damion Wicker, M.D., Partner of JP Morgan Partners, LLC.

Eyetech Pharmaceuticals Signs Research Agreement With Massachusetts Eye and Ear Infirmary
AScribe Newswire  Thursday, November 30, 2000

NY Nov. 30 - Eyetech Pharmaceuticals, Inc. announced today that it has signed a research and development agreement with Massachusetts Eye and Ear Infirmary [MEEI], a teaching affiliate of Harvard Medical School. The agreement, which provides for Eyetech sponsorship of research conducted in the Angiogenesis Laboratory of MEEI's Retinal Research Institute, gives Eyetech a strategic alliance for the development of breakthrough discoveries that treat diseases of the retina, such as macular degeneration and diabetic retinopathy.

Under the terms of the agreement, Eyetech will have the right of first negotiation for exclusive licenses for eligible intellectual property developed by the Laboratory through Eyetech's funding.

"This valuable collaboration with MEEI allows Eyetech at an early stage to identify and promote exciting ophthalmic diagnostic and treatment innovations from scientists who rank among the world's foremost researchers in ophthalmology," said David R. Guyer, M.D., Chief Executive Officer of Eyetech. "The Retinal Research team at MEEI has been a perennial leader in research breakthroughs in ocular disease. Our sponsorship of their work shows our commitment to combating eye disease with novel solutions, from the lab through testing to ultimate delivery to the patient. The agreement we have announced today provides the scientific and pre-clinical platform that will enable Eyetech to remain a leading biotechnology company focused on treating eye diseases."

The leaders of MEEI's Angiogenesis Laboratory Group - Evangelos S. Gragoudas, M.D., Anthony P. Adamis, M.D., and Joan W. Miller, M.D, - serve on Eyetech's Scientific Advisory Board and as Pre-Clinical Studies Directors for Eyetech. All three researchers have distinguished themselves through their groundbreaking research in the treatment of retinal diseases, macular degeneration and diabetic retinopathy.

The MEEI scientists say the additional funding from Eyetech will allow them to move further into drug discovery and to accelerate their search for new and better ways to develop and deliver drugs that treat eye disease.

"MEEI is extremely pleased to enter into this collaboration with Eyetech," said Dr. Gragoudas, a pioneer in ophthalmology research whose experience spans more than a quarter of a century. "We are working in one of the most exciting areas of ophthalmology research today-an area that holds tremendous promise. This collaboration will assist in developing new and better treatments for eye disease and in making them available to the public." Dr. Gragoudas, who is also a professor of ophthalmology at Harvard Medical School and director of the retinal practice at MEEI, added, "We look forward to working with the team of prominent ophthalmologists and experienced biotech executives at Eyetech who have the ability to take a concept from basic research through the pre-clinical and clinical development stages and ultimately to new drug approval."

Eyetech already has one drug in clinical trials. The drug, currently identified during clinical trials as Macugen™ (pegaptanib sodium), targets the "wet" form of age-related macular degeneration, the leading cause of blindness in adults over age 50. In wet macular degeneration, abnormal blood vessels grow behind the retina, which is the light-sensitive layer of tissue in the back of the eye. These small vessels leak blood and eventually destroy the retina. Macugen™ (pegaptanib sodium) aims to prevent the abnormal growth of blood vessels. Phase I clinical trials of Macugen™ (pegaptanib sodium) are taking place in leading medical centers around the country. Diseases of the retina strike millions of people. Macular degeneration and diabetic retinopathy are the two leading causes of blindness in adults in developed countries.

Eyetech Pharmaceuticals, Inc. is a privately-held, New York City-based biopharmaceutical company dedicated to developing and commercializing novel drugs to reduce and prevent vision loss caused by eye disease. The company is also focused on developing new technologies to deliver drugs safely to the back of the eye. Eyetech has brought together experienced pharmaceutical industry executives and a world class team of thought-leaders in ophthalmology from medical centers such as Harvard, Stanford, the University of Chicago, Johns Hopkins and Columbia. They bring extensive management and clinical experience to designing, implementing, testing and commercializing products to treat diseases of the eye.

Founded in 1824, the Massachusetts Eye and Ear Infirmary is an international center for treatment and research, and a teaching affiliate of Harvard Medical School. Information about the Massachusetts Eye and Ear Infirmary is available on its web site at http://www.meei.harvard.edu.

CONTACT:

Mary Leach, Massachusetts Eye and Ear Infirmary,

617-573-4170

Gilead Sciences and Eyetech Pharmaceuticals Announce Exclusive License of Potential New Therapy for Age-Related Macular Degeneration
Copyright 2000 Business Wire, Inc.: FOSTER CITY, Calif.  Wednesday, April 05, 2000

Worldwide Agreement for Gilead's Proprietary Aptamer NX 1838. Gilead Sciences, Inc. (Nasdaq:GILD) and Eyetech Pharmaceuticals, Inc. today announced an exclusive, worldwide license of an investigational therapy for the treatment of the wet form of Age-Related Macular Degeneration (AMD), the most common cause of adult-onset blindness, and Diabetic Retinopathy. Eyetech received worldwide rights to all therapeutic uses of Gilead's proprietary aptamer NX 1838, an inhibitor of vascular endothelial growth factor (VEGF).

VEGF is known to play a role in the development of both ophthalmic diseases. Currently in early clinical trials, NX 1838 will require additional studies to determine its safety and efficacy for these treatment indications.

Under the terms of the deal, Eyetech has paid Gilead an up-front licensing fee of $7 million, and Gilead is entitled to additional cash payments of up to $25 million upon achievement of development milestones. Eyetech will be responsible for all research and development costs and will pay Gilead royalties on the worldwide sales of NX 1838. Eyetech also issued Gilead a warrant to purchase 833,333 shares of Eyetech Series B Convertible Preferred Stock, exercisable over a five-year period at a per share price of $6.00, the price paid by the investors participating in Eyetech's recent round of venture capital financing.

"Eyetech is building a strong foundation for success," said John C. Martin, Ph.D., Chief Executive Officer and President, Gilead Sciences. "Their work in basic research on the causes of eye disease and clinical testing of new ophthalmic drugs provides the necessary experience to rapidly and successfully develop NX 1838."

A recently formed private company, Eyetech engages in the development and commercialization of novel drugs to reduce and prevent serious vision loss caused by eye disease. NX 1838 will form the cornerstone of its ophthalmic portfolio. Eyetech's founding board members include Chairman of the Board, John McLaughlin, who has more than 20 years of leadership experience in the pharmaceutical and biotechnology industries. Formerly Executive Vice President of Genentech and President of Tularik, Mr. McLaughlin is currently President of Corgentech, a privately held pharmaceutical company. Eyetech's co-founder David Guyer, MD, who also is acting CEO and President of Eyetech, is considered one of the world's leading authorities on macular degeneration. Dr. Guyer is Director of Residency Training at Manhattan Eye, Ear & Throat Hospital and Clinical Associate Professor of Ophthalmology at Cornell University Medical Center in New York. Co-founder Samir Patel, MD is the Chief Medical Officer of Eyetech and was most recently Director of the Retinal Service and Residency at the University of Chicago, where he also was an Associate Professor. Dr. Patel was the first surgeon to perform a retinal transplant in humans in the United States.

"We believe that NX 1838 has the potential to be a breakthrough drug for the treatment of neovascular AMD," said Dr. Guyer. "As the lead compound in our portfolio of ophthalmics, NX 1838 will receive the full attention of our company. We are very enthusiastic about the profile of NX 1838 and plan to commence additional clinical studies this year." Mark Blumenkrantz, MD, Chairman and Professor of Ophthalmology at Stanford, commented, "Eyetech has assembled a world class team to develop and commercialize a very promising potential drug to treat AMD."

AMD May Result in Irreversible Blindness: AMD is the leading cause of vision loss and blindness in people aged 65 and older. The disease is characterized by the growth of blood vessels into the center of the retina. Over time, the leakage from these small blood vessels causes the formation of scar tissue on the retina. A patient's central vision gradually deteriorates as the disease destroys the retina, ultimately resulting in irreversible blindness. The two common types of AMD are atrophic ("dry") and neovascular ("wet"). Wet macular degeneration accounts for approximately 10 percent of all cases but is a more serious threat to complete vision loss than the dry form.

Growing Incidence of AMD: Each year, approximately 200,000 Americans are diagnosed with the wet form of AMD. The incidence is slightly higher in Europe with 220,000 new cases diagnosed annually and Japanese officials estimate 78,000 new cases this year. As the population ages, the incidence of AMD is expected to increase dramatically. In the United States alone, approximately 1.2 million individuals have been afflicted with this devastating disease, which is considered the leading cause of legal blindness in people aged 65 and older.

Currently, there is no effective therapeutic for the treatment of AMD. Recently approved by the U.S. Food and Drug Administration, photodynamic therapy (PDT) will soon be a commercially available treatment for the condition. An important first step in the care of patients with AMD, experts believe that PDT is not a cure and does not prevent recurring bleeding in the eye-the underlying cause of wet AMD. Experts in the field believe that medical intervention with a drug to inhibit neovascularization would represent the next major breakthrough in this area and may be complementary to PDT.

NX 1838 Inhibits VEGF: Extensive pre-clinical and clinical research has attributed the sudden abnormal growth of ocular blood vessels to the over-production of vascular endothelial growth factor (VEGF), a protein that stimulates the growth of the endothelial cells that make new blood vessels (a process called angiogenesis).

In animal and human models, NX 1838 has been shown to bind to VEGF and inhibit its function, thus preventing the abnormal growth of ocular blood vessels and vessel leakage in the eye.

NX 1838 is a compound from a class of drugs called aptamers. Made of chemically synthesized short strands of RNA (oligonucleotides), aptamers assume three-dimensional shapes that allow high affinity binding to the targets for which they are designed, a characteristic that may enhance therapeutic benefit.

Anthony Adamis, MD, Associate Professor of Ophthalmology at Harvard Medical School and Director of Eyetech's pre-clinical development program noted, "Given the requisite role of VEGF in ocular neovascularization and the aptamers' high specificity for VEGF, this aptamer is a logical choice for the inhibition of choroidal neovascularization secondary to AMD."

Following execution of the licensing agreement, Eyetech intends to initiate a multiple dose Phase I trial to further define the safety profile of NX 1838.

About Gilead Sciences and Eyetech Pharmaceuticals

Gilead Sciences, Inc., headquartered in Foster City, CA, is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. Gilead discovers, develops, manufactures and commercializes proprietary therapeutics for challenging infectious diseases (viral, fungal and bacterial infections) and cancer. Gilead maintains research, development or manufacturing facilities in Foster City, CA; Boulder, CO; San Dimas, CA; Cambridge, UK and Dublin, Ireland and sales and marketing organizations in the United States, Europe and Australia. For more information about Gilead, please visit www.gilead.com.

Eyetech Pharmaceuticals, Inc. is a private, Manhattan-based pharmaceutical company recently formed to develop and commercialize novel drugs to reduce and prevent serious vision loss caused by eye disease. The Company's primary goal is to develop and commercialize the first breakthrough antiangiogenic drug to reduce vision loss caused by neovascular age-related macular degeneration.

The Eyetech team combines world-renowned thought-leaders in ophthalmology, strong relationships with leading academic institutions such as Harvard and Stanford, and extensive experience designing and implementing clinical trials to test drugs to treat diseases of the eye.

Susan Hubbard, (650)522-5715

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