Lpath Adds Two Key Members to its Executive Team

SAN DIEGO, April 16, 2013 (GLOBE NEWSWIRE) -- Lpath, Inc. (Nasdaq:LPTN), the industry leader in bioactive lipid-targeted therapeutics, has added two key members to its leadership team. Dario A. Paggiarino, M.D., has joined the company as Senior Vice President and Chief Development Officer, and Gary Woodnutt, Ph.D. has joined Lpath as Senior Vice President of Research.

Dr. Paggiarino brings to Lpath more than 25 years of experience in the pharmaceutical industry, having directed global development programs in a number of therapeutic areas including ophthalmology, pain, inflammatory conditions, and oncology. Most recently, Dr. Paggiarino served as Vice President and Therapeutic Unit Head for retina diseases at Alcon, a division of Novartis. He also served as Executive Director of Clinical Development and Medical Affairs at Pfizer Global R&D with focus on global clinical development in glaucoma, diabetic and degenerative retinal diseases, and medical responsibilities for Macugen®. Earlier in his career, he held R&D positions of increasing responsibility at Angelini Pharmaceuticals, a privately owned company, ultimately serving as president. Later he joined Pharmacia Global R&D where he was clinical program director of ophthalmology with responsibilities for Xalatan®, the leading glaucoma therapy in the world, and ocular devices such as viscoelastics (Healon®) and intraocular lenses (CeeOn®, Tecnis®). Dr. Paggiarino earned his degree in Medicine and General Surgery at the University of Rome La Sapienza and has authored numerous scientific articles.

Dr. Woodnutt brings to Lpath extensive experience in drug discovery and pharmaceutical research. Prior to joining Lpath, Dr. Woodnutt served as the Vice President, Open Innovation at Pfizer/CovX, but his primary role at CovX, from 2006 to 2012, was as Vice President of Biology Research. From 2002 to 2006, Dr. Woodnutt was the Senior Vice President of Pharmaceutical Research and Development for Diversa Corporation. He began his career in the pharmaceutical industry with Glaxo SmithKline Pharmaceuticals, where he was employed for more than 20 years and rose to the position of Vice President and Head of Biology in the Antimicrobial and Host Defense Group. Dr. Woodnutt received his Ph.D. in biochemistry/physiology from the University of Reading, and he, too, has authored numerous scientific articles.

"I am thrilled with the addition of these two key members to our team," said the company's President and CEO, Scott Pancoast. "Dr. Paggiarino, a seasoned clinical development expert with over ten years' experience in ophthalmology, will provide strong leadership in navigating Lpath's drug candidates towards commercialization. On the discovery and research side, Dr. Woodnutt will be invaluable in extending our category leadership in lipid-targeted antibodies as we continue to optimize our drug-discovery platform and add to our pipeline of novel and promising drug candidates."

Scott Pancoast continued, "The addition of these world-class individuals rounds out the executive team at Lpath and provides key validation of the Lpath story."

About Lpath

San Diego-based Lpath, Inc., a therapeutic antibody company, is the category leader in lipid-targeted therapeutics, an emerging field of medicine that targets bioactive signaling lipids for treating a wide range of human disease. Lpath's ImmuneY2™ drug-discovery engine has the unique ability to generate therapeutic antibodies that bind to and inhibit bioactive lipids that contribute to disease. The company is developing three drug candidates: iSONEP™ is currently in a Phase 2 trial for wet AMD; ASONEP™ will soon begin a Phase 2 trial in Renal Cell Carcinoma patients; and Lpathomab is a preclinical drug candidate that holds promise in pain, neurotrauma, and other diseases.

CONTACT: Lpath, Inc. Scott R. Pancoast President & CEO (858) 926-3200 spancoast@Lpath.com Lpath Investor Relations Casey Stegman Stonegate Securities (214) 987-4121 casey@stonegateinc.comSource:Lpath, Inc.