GAINESVILLE, Fla. and CAMBRIDGE, Mass., April 26, 2021 (GLOBE NEWSWIRE) — Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, today announced that Mark Shearman, Ph.D., Chief Scientific Officer, has resigned from the company to pursue another opportunity but will remain to facilitate a smooth transition through June 4, 2021.
“Dr. Shearman has had a successful tenure leading AGTC’s product candidate selection process, pre-clinical and translational research and long-term research and development planning,” said Sue Washer, President and CEO of AGTC. “We are grateful to Mark for his valuable contributions over the last six years that resulted in the completion of several critical milestones. Mark successfully led the advancement of our pipeline such that our focus now spans development stages from the Phase 2/3 clinical program in XLRP, Phase 1/2 clinical programs in ACHM to IND enabling studies for promising product candidates in CNS, Otology and Ophthalmology.”
“It has been a great privilege to work with AGTC’s talented Research and Clinical Development team and contribute to the development of much-needed AAV gene therapies,” said Dr. Shearman. “The company has progressed to an exciting stage with promising clinical data emerging and a strong pipeline in place. I wish AGTC continued success across its development activities.”
AGTC has a strong group of senior leaders that will take over Dr. Shearman’s responsibilities in the interim, assisted by Dr. Matthew Feinsod, Executive VP of Global Strategy and Development. Earlier this year AGTC partnered with an internationally recognized recruiting firm to continue the growth of its leadership team in preparation for planned late stage development and commercialization of its clinical programs. The Company is focused on selection of a senior research/medical officer who will have responsibility for advancement of the pipeline, especially XLRP and ACHM, through development and into commercialization, and will have the mandate to build a talented scientific, clinical and medical team with the expertise to realize the potential of the company’s clinical programs.
About AGTC
AGTC is a clinical-stage biotechnology company developing genetic therapies for people with rare and debilitating ophthalmic, otologic and central nervous system (CNS) diseases. AGTC is a leader in designing and constructing all critical gene therapy elements and bringing them together to develop customized therapies that address real patient needs. AGTC’s most advanced clinical programs leverage its best-in-class technology platform to potentially improve vision for patients with an inherited retinal disease. AGTC has active clinical trials in X-linked retinitis pigmentosa (XLRP) and achromatopsia (ACHM CNGB3 and ACHM CNGA3). Its preclinical programs build on the Company’s industry leading AAV manufacturing technology and scientific expertise. AGTC is advancing multiple important pipeline candidates to address substantial unmet clinical need in optogenetics, otology and CNS disorders. In recent years AGTC has entered into strategic partnerships with companies including Otonomy, a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology, and Bionic Sight, an innovator in the emerging field of optogenetics and retinal coding.
