David has significant medical, drug development and commercial experience in ophthalmology. He joined SV Health Investors as a Venture Partner in 2006
He serves as the Chief Executive Officer and Chairman of the Board of Ophthotech. Under David’s leadership, Ophthotech raised more than $350 million in financing in the five-month period from May to September 2013, including a $192 million initial public offering, a multi-tranched $125 million royalty financing deal with Novo A/S and a $50 million Series C private funding round. In the first quarter of 2014, Ophthotech also successfully completed a follow-on public offering resulting in gross proceeds to the Company of $59.9 million and closed the second tranche of our royalty financing. In May of 2014, Ophthotech entered into an ex-US licensing and commercialization deal for Fovista®, a novel anti-PDGF agent in Phase 3 trials for wet age-related macular degeneration, with Novartis potentially worth over $1 billion, inclusive of $330 million in an upfront fee ($200 million) and near-term enrollment milestones ($130 million), excluding future royalties, which places the deal as one of the largest ex-US partnering transactions ever in the biotechnology industry.
Following a successful career in academic medicine as Professor and Chairman of the Department of Ophthalmology at New York University School of Medicine, David co-founded and served as CEO and Director at Eyetech Pharmaceuticals, Inc., where he led the company through private, public and corporate financings over $400 million, including a $157 million IPO offering. He also oversaw the rapid development and successful commercialization of Macugen® (pegaptanib sodium), the first FDA-approved anti-VEGF pharmacological treatment for wet AMD, on which Eyetech partnered with Pfizer in a deal valued at over $750 million, excluding royalties. Under his leadership, Eyetech reached a peak market capitalization of approximately $2 billion. At the time, the Macugen launch was in the top 10 percent of pharmaceutical first-year launches. OSI Pharmaceuticals subsequently acquired Eyetech in a deal valued at $935 million. Prior to joining Ophthotech, David previously worked as a venture capitalist and Partner at SV, and has served on multiple boards of both public and private companies.
BS, Yale College, summa cum laude; MD, Johns Hopkins University School of Medicine; ophthalmology residency, Wilmer Ophthalmological Institute at Johns Hopkins Hospital; retinal fellowship, Massachusetts Eye and Ear Infirmary at Harvard Medical School.
Outside of SV
David serves on the Boards of AGTC and Thrombogenics