Ocuphire Pharma Announces Appointment of George Magrath, MD, MS, as Chief Executive Officer and Director
Ocuphire Pharma announced the appointment of George Magrath, MD, MS, as Chief Executive Officer and member of the Board of Directors, effective today. Dr. Magrath succeeds Rick Rodgers, Interim CEO and President since April 2023. Mr. Rodgers will remain on the company’s Board of Directors.
Dr. Magrath was most recently the Chief Executive Officer of Lexitas Pharmaceutical Services, where he led the company through significant growth, broadened its business lines, and increased revenue substantially, according to Ocuphire. He led Lexitas through the acquisition and integration process with QHP Capital, creating an ophthalmology contract research organization and generating value for investors. Prior to Lexitas, Dr. Magrath served as Medical Director to Hovione Pharmaceuticals, responsible for developing and advancing the company’s proprietary drugs in dermatology, ophthalmology, and respiratory.
“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,” Cam Gallagher, Chairman of Ocuphire Pharma’s Board of Directors, said in a company news release. “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,” said 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.”