ANN ARBOR, Mich., Feb. 09, 2022 (GLOBE NEWSWIRE) -- ONL Therapeutics, Inc., a clinical-stage biopharmaceutical company developing novel therapies for protecting the vision of patients with retinal disease, today announced the appointment of Sushanta Mallick, PhD, MBA, to the newly created position of Chief Development Officer. As CDO, Dr. Mallick will be responsible for all clinical development activities for the company’s lead compound ONL1204 Ophthalmic Solution, leveraging his experience in successfully leading the development of multiple ophthalmology assets over nearly three decades.

“Sushanta’s experience in leading ophthalmology development, particularly in our target disease areas of interest, will be critical as we continue to advance ONL1204 across three key indications,” said David Esposito, Chief Executive Officer of ONL Therapeutics. “With our Phase 1 study of ONL1204 in patients with retinal detachment expected to be completed this year, and continued progress in our Phase 1b studies in the chronic indications of open-angle glaucoma (OAG) and geographic atrophy (GA) associated with age-related macular degeneration (AMD), we are thrilled to welcome Sushanta to the company’s leadership team.”

Last month, ONL announced the closing of the second tranche of a $46.9 million Series B financing round, led by Fort Worth, TX-based Bios Partners. The Series B funding supports the completion of the three Phase 1 studies for ONL1204 in the Asia-Pacific region, as well as regulatory preparations for Phase 2 programs in the United States.

“I am thrilled to join the ONL Therapeutics team with its mission of bringing neuroprotection innovation to patients suffering from serious retinal diseases,” commented Dr. Mallick. “The company’s unique and differentiated Fas inhibition platform is incredibly exciting and scientifically compelling, and has the potential to make a real difference in patient lives.”

Dr. Mallick brings 30 years of experience in ophthalmology research and development, with over a decade in senior leadership roles in companies spanning the US, Canada, and Europe. Prior to joining ONL, Dr. Mallick was the Vice President and Head of Clinical Development at Nicox Ophthalmics, an international ophthalmology company headquartered in Nice, France, where he led the development program for two ongoing Phase 3 clinical trials in the US and China for its lead compound in glaucoma. Dr. Mallick gained his therapeutic area expertise in ophthalmology at Alcon Research Ltd. in Ft. Worth, Texas, where he held positions of increasing responsibilities that resulted in multiple product approvals in glaucoma and culminated in an appointment with Alcon’s ESBATech, a biomedical research company based in Zurich, Switzerland. As the clinical unit head there, he directed two IND submissions and proof of concept trials resulting in the market approval for a new wet AMD product. As Vice President of R&D at QLT Inc. in Vancouver, he led the development of an oral synthetic retinoid as an orphan drug in inherited retinal diseases. Previously, as Vice President and Global Development Lead at Shire/Takeda, he managed all aspects of multiple ophthalmic development programs, from late preclinical stages through commercialization. Dr. Mallick has a MPharm in Pharmaceutics, PhD in Biochemistry and MBA in Marketing and International Management.

About ONL1204 Ophthalmic Solution
ONL1204 is a novel, first-in-class small molecule Fas inhibitor designed to protect key retinal cells, including photoreceptors, from cell death that occurs in a range of retinal diseases and conditions. Death of these retinal cells, through both direct and inflammatory signaling pathways, is the root cause of vision loss and the leading cause of blindness. The company’s ONL1204 development program focused its first indication on the treatment of retinal detachment, a condition for which the compound has been granted orphan drug designation by the United States Food and Drug Administration (FDA). The company is also conducting a Phase 1b clinical trial in patients with geographic atrophy (GA) associated with age-related macular degeneration (AMD) and a Phase 1b clinical trial in patients with progressing open-angle glaucoma. Preclinical work is ongoing to enable clinical trials in other disease indications, including inherited retinal degeneration (IRD; also known as retinitis pigmentosa). In addition, the Company continues to advance a novel gene therapy approach for Fas inhibition.

About ONL Therapeutics
ONL Therapeutics (ONL) is a clinical-stage biopharmaceutical company committed to protecting and improving the vision of patients with retinal disease. By advancing a breakthrough technology designed to protect key retinal cells from Fas-mediated cell death, ONL is pioneering a new approach to preserving vision. ONL is developing a platform of products for use in a wide range of blinding diseases, including retinal detachment, glaucoma, AMD and IRD.

For more information about ONL Therapeutics, please visit www.onltherapeutics.com.

Company Contact:
Linda Kemnitz 
ONL Therapeutics, Inc.
lkemnitz@onltherapeutics.com