Allegro Appoints New CEO and Prepares for Ph III Trials for Diabetic Macular Edema Drug

CP Staff
CP Staff
  • New CEO Has 25 Years Experience in the ophthalmic pharmaceutical space
  • Luminate met primary endpoints in Ph IIb study
  • Luminate is a first-in-class integrin peptide therapy for treating neovascular retinal diseases


Allegro Ophthalmics, LLC announced on 8/21/18 that its Board of Directors has named Hampar Karageozian to the position of Executive Chairman and has appointed Vicken Karageozian, MD, to the position of President and Chief Executive Officer. In his new role, Dr. Karageozian will prepare the company for the next key milestone—entering Phase 3 clinical trials with its lead compound risuteganib (Luminate) in diabetic macular edema (DME)—and continue developing risuteganib for other retinal disease indications.

“One of my primary objectives will be to reach the completion of Phase 3 clinical trials in DME,” said Dr. Karageozian. “I look forward to working diligently to reach our goals so that doctors and patients will be able to realize the promise of our novel integrin inhibition therapy, risuteganib.”

Dr. Karageozian has more than 25 years’ experience building, leading, and raising capital for companies in the ophthalmic pharmaceutical space. An ophthalmic surgeon by training and prior managing partner of Clarity Eye Group, Dr. Karageozian is the co-founder of three ophthalmic biotech companies, including ISTA Pharmaceuticals, Inc., Vitreoretinal Technologies, Inc., and Allegro. He is the inventor or co-inventor of numerous ophthalmic products with 82 patents issued or pending primarily on drug discoveries. In addition, Dr. Karageozian has been instrumental in raising more than $200M in venture and institutional capital, corporate partnerships, and regional licenses.

In August of 2017, Allegro announced that Luminate met primary endpoints in a Ph IIb study.  The 1.0 mg dose of Luminate in sequential therapy demonstrated visual acuity gains equivalent at all time points to bevacizumab monotherapy and again showed 12 week durability after the completion of three loading doses.

Luminate, a first-in-class integrin peptide therapy, treats neovascular retinal diseases by targeting integrin receptors involved in cell signaling and regulation and in the construction of new and aberrant blood vessels. It is the first class of drug for retinal angiogenesis that shuts off the source of production of growth factors, directly interferes with vessel construction and has specific anti-inflammatory properties. Luminate has been shown in clinical studies to effectively maintain and improve vision by regressing and inhibiting new blood vessel formation, as well as reducing vascular leakage. Currently in Phase 2 clinical trials for multiple indications.