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Allegro Ophthalmics Prepares To Take Lead Compound Risuteganib To Phase 3, Appoints New CEO

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-- Hampar Karageozian, Co-Founder and Former CEO, Named Executive
Chairman

-- Vicken Karageozian, MD, Co-Founder and Former President and CMO,
Named President and CEO

Allegro Ophthalmics, LLC, a late stage ophthalmic biopharmaceutical
company focused on the development of therapies to treat retinal
diseases, today announced that its Board of Directors has named Hampar
Karageozian to the position of Executive Chairman and has appointed
Vicken Karageozian, MD, to the position of President and Chief Executive
Officer. In his new role, Dr. Karageozian will prepare the company for
the next key milestone—entering Phase 3 clinical trials with its lead
compound risuteganib (Luminate®) in diabetic macular edema (DME)—and
continue developing risuteganib for other retinal disease indications.

"I would like to thank Hampar for his passion, dedication and the effort
he has put forth the last seven years in the development of a potential
first-in-class drug for the treatment of DME. His many years in drug
discovery, and long track record of building successful ophthalmic
companies have been essential for establishing a strong foundation for
Allegro's growth," said William J. Link, PhD, co-founder and managing
director of Versant Ventures and member of Allegro's Board of Directors.
"I am convinced that Vicken's strategic vision, clinical development
expertise and experience working with private and institutional
investors will position Allegro for future success."

In his new role as Executive Chairman, Mr. Karageozian will continue to
drive Allegro's strategic vision, focusing on new product discovery,
research and development. "Vicken is a passionate leader focused on
preparing the company for an important new milestone in its history,"
said Mr. Karageozian. "The Board and I are confident that with Vicken
and his experienced management team, Allegro is well-positioned to bring
risuteganib to market and provide a potential new treatment option for
those patients with retinal diseases who respond poorly to the current
standard of care."

"One of my primary objectives will be to reach the completion of Phase 3
clinical trials in DME," said Dr. Karageozian. "I look forward to
working diligently to reach our goals so that doctors and patients will
be able to realize the promise of our novel integrin inhibition therapy,
risuteganib."

Dr. Karageozian has more than 25 years' experience building, leading,
and raising capital for companies in the ophthalmic pharmaceutical
space. An ophthalmic surgeon by training and prior managing partner of
Clarity Eye Group, Dr. Karageozian is the co-founder of three ophthalmic
biotech companies, including ISTA Pharmaceuticals, Inc., Vitreoretinal
Technologies, Inc., and Allegro. He is the inventor or co-inventor of
numerous ophthalmic products with 82 patents issued or pending primarily
on drug discoveries. In addition, Dr. Karageozian has been instrumental
in raising more than $200M in venture and institutional capital,
corporate partnerships, and regional licenses.

About Allegro Ophthalmics, LLC

Allegro Ophthalmics, LLC is a late-stage ophthalmic biopharmaceutical
company focused on redefining the retina space with integrin inhibition
therapy, a potential market-disrupting class of drugs for the treatment
of retinal diseases. Allegro's lead investigational drug, risuteganib
(Luminate®), a broad-spectrum integrin inhibitor, downregulates
oxidative stress upstream, at its source, simultaneously affecting all
four pathways of oxidative stress that contribute to retinal diseases
such as diabetic macular edema (DME) and nonexudative age-related
macular degeneration (dry AMD).

Risuteganib has successfully met the endpoints for three Phase 2 studies
and is preparing to enter Phase 3 studies in DME during the first half
of 2019. Allegro is working closely with the global retina community to
bring to market new treatment options for leading causes of blindness
and is committed to offering patients an improved quality of life
sustained by self-sufficient, functional vision. Allegro maintains all
intellectual property related to risuteganib worldwide and all
commercial rights of risuteganib outside of Japan, Korea and China. For
more information, visit www.allegroeye.com.

Luminate® is a registered trademark of Allegro Ophthalmics, LLC.

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