OCUP - Ocuphire Pharma Announces Appointment of George Magrath M.D. M.B.A. M.S. as Chief Executive Officer and Director | Benzinga
FARMINGTON HILLS, Mich., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Ocuphire Pharma, Inc. (NASDAQ:OCUP), a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing small-molecule therapies for the treatment of retinal and refractive eye disorders, today announced the appointment of George Magrath, M.D., M.B.A., M.S., as Chief Executive Officer and member of the Board of Directors, effective today.
Dr. Magrath succeeds Rick Rodgers, M.B.A., Interim Chief Executive Officer and President since April 2023. Mr. Rodgers will remain on the company's Board of Directors.
"We are thrilled to have Dr. Magrath, a highly accomplished pharmaceutical executive with extensive business, financial, and medical expertise, join Ocuphire as Chief Executive Officer," said Cam Gallagher, Chairman of Ocuphire Pharma's Board of Directors. "With a successful track record in strategy, P&L performance, and value creation, and as a board-certified ophthalmologist with experience in drug development, Dr. Magrath is ideally suited to establish Ocuphire as a leading company in retina. On behalf of the board, I would like to welcome George and also to thank Rick Rodgers for his leadership as Interim Chief Executive Officer."
"It's unique that innovative and impactful science comes together with such a talented team at a true value inflection point," stated Dr. Magrath. "I am excited to lead Ocuphire as we advance the clinical development of our lead retina asset, APX3330, targeting the progression of diabetic retinopathy with an elegant mechanism of action and impressive Phase 2 results to create a promising potential therapy for our patients. Additionally, we look forward to continuing the partnership with Viatris on the development of phentolamine ophthalmic solution 0.75% (POS) in refractive indications."
Dr. Magrath was most recently the Chief Executive Officer of Lexitas Pharmaceutical Services, Inc., where he led the company through significant growth, broadened its business lines, and increased revenue substantially. He successfully led Lexitas through the acquisition and integration process with QHP Capital, creating a premier ophthalmology contract research organization and generating significant value for investors. Prior to Lexitas, Dr. Magrath served as Medical Director to Hovione Pharmaceuticals, LLC, responsible for developing and advancing the company's proprietary drugs in dermatology, ophthalmology and respiratory. He has served on many industry advisory boards and has authored numerous peer-reviewed publications. Dr. Magrath received his medical degree from the Medical University of South Carolina, M.B.A. from The Citadel - The Military College of South Carolina, M.S. in Applied Economics from Johns Hopkins University, and B.S. in Biological Chemistry from Clemson University.
About Ocuphire Pharma
Ocuphire Pharma, Inc. is a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing small-molecule ...