Visgenx Appoints William Pedranti as Chief Executive Officer

• The Company is developing VGX-0111, a gene therapy candidate for Dry Age-related Macular Degeneration (AMD), an aging related disorder and a leading cause of vision loss

SAN DIEGO, June 5, 2023 /PRNewswire/ -- Visgenx, Inc., a biotechnology company focused on developing gene therapies for degenerative retinal diseases, today announced the appointment of William Pedranti, J.D., as Chief Executive Officer. Mr. Pedranti will also join the Company's Board of Directors. Martin Emanuele, Ph.D., Co-Founder of Visgenx, will continue as Chief Science Officer.

Mr. Pedranti has twenty years of executive leadership experience in the biotech industry including seven years in the ophthalmology space.

"William brings biotech research and development and capital finance experience and a proven track record in building successful, high-performing biotech companies," stated Arthur Becker, Chairman of the Board of the Company. "The Board is confident in William's abilities to lead Visgenx through its next chapter as we move our exciting gene therapy product, VGX-0111, forward in development."

"I am honored to lead Visgenx and join an incredibly talented group of people to build on what has been accomplished," said Mr. Pedranti. "Dry age-related macular degeneration is a debilitating condition that affects almost two hundred million people globally and there are limited treatment options. Our lead program VGX-0111 has shown promising results in experimental models of dry AMD and was well tolerated and demonstrated the targeted pharmacological activity in a recent study in non-human primates. Our goal now is to complete a series A funding and translate these findings to human patients with dry AMD."

Prior to joining Visgenx, Mr. Pedranti was a Partner with PENG Life Science Ventures, an independent and forward-thinking healthcare and life sciences venture firm that he co-founded that holds five, private biotech companies in its portfolio in the areas of ophthalmology, oncology, nephrology, neurology and infectious disease. He has led and/or assisted with capital raises of an aggregate of over $375 million and negotiated transactions with over $1 billion in total deal value, including the sale of products and companies. He has taken a biotech company from its initial founding through FDA product approval and subsequent commercial launch. He holds a Bachelor of Science in Business Administration (entrepreneurship) from the University of Southern California and a law degree from the Georgetown University Law Center. 

ABOUT VISGENX, INC.

Visgenx, Inc. is a biotechnology company focused on developing gene-based therapeutics for degenerative retinal diseases. Visgenx' initial product is VGX-0111, a gene therapy candidate being developed for the treatment of dry Age-related Macular Degeneration (AMD). Close to 200 million people suffer from dry AMD globally; it is a leading cause of blindness. VGX-0111 is based on the ELOVL2 gene, which is required for the biosynthesis of lipids necessary for the function and survival of retinal cells. ELVOL2 expression declines with aging which may be an underlying pathology of dry AMD. VGX-0111 is intended to restore a normal level of ELOVL2 expression thereby slowing or halting the vision loss resulting from dry AMD. For more information on Visgenx, visit www.visgenx.com.

Forward Looking Statements

This press release contains forward-looking statements related to Visgenx, Inc., under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding the potential for VGX-0111 as a treatment for Dry AMD. Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements include that the therapy may not be effective at treating Dry AMD. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as required by law.

Contact: William Pedranti

(949) 413-2672

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SOURCE Visgenx