Business Executive Alex Gorsky Joins Neurotech’s Board as Lead Director

Neurotech Pharmaceuticals announced that Alex Gorsky has been elected to Neurotech’s board as Lead Director. Mr. Gorsky is the former Chairman and CEO of Johnson & Johnson.

Under Mr. Gorsky’s leadership, Johnson & Johnson grew to become one of world’s largest diversified healthcare companies and an innovator in research and development for emerging health technologies. His influence has helped shaped both the healthcare landscape and the greater business community through his work as a member of the Business Roundtable, the Business Council, and many industry groups. He currently sits on the boards of Apple, IBM, JPMorgan Chase, and the Travis Manion Foundation, as well as the Wharton School of the University of Pennsylvania Board of Advisors.

“I am delighted to welcome Alex to Neurotech’s Board of Directors,” said Jim Mazzo, Neurotech’s Executive Chairman. “As a visionary in patient focused healthcare, his expertise and enthusiasm for innovative technology will greatly enrich Neurotech’s mission to revolutionize treatments for various ocular diseases using our encapsulated cell therapy.”

“I am honored to join Neurotech’s board and look forward to using my experience to help the company navigate in a rapidly evolving environment," Mr. Gorsky said in a company news release. "I am inspired by the Lowy family’s long-term commitment. This unique scientific approach and novel technology for the treatment of chronic eye diseases has the potential to provide access to important health options for patients around the world.”

Neurotech is developer of the investigational NT-501 implant for Macular telangiectasia type 2 (MacTel). Designed to be implanted into the vitreous cavity of the eye, the investigational NT-501 implant is a tiny hollow cylindrical membrane which encapsulates human epithelial cells genetically engineered to produce ciliary neurotropic factor (CNTF) continuously, a protein now clinically validated in phase 3 clinical trials to slow the progression of MacTel.

MacTel, or idiopathic juxtafoveal macular telangiectasia type 2, is a rare neurodegenerative disease with characteristic alterations of the retinal vasculature and localized retinal degeneration. MacTel typically affects both eyes and causes a gradual deterioration in central vision.