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.