Ophthotech Announces Leadership Transition Effective July 1, 2017

– David R. Guyer, M.D. to Transition to Executive Chairman –

– Glenn P. Sblendorio to Become Chief Executive Officer –

– David F. Carroll Promoted to Chief Financial Officer, Effective
Immediately –

NEW YORK–(BUSINESS WIRE)–Ophthotech Corporation (Nasdaq:OPHT) today announced that David R.
Guyer, M.D., a co-founder, Chief Executive Officer and Chairman of the
Board of Ophthotech will transition to Executive Chairman effective July
1, 2017. Concurrent with this transition, Ophthotech’s Board of
Directors appointed Glenn P. Sblendorio, the Company’s President and
Chief Financial Officer, as Chief Executive Officer of the Company, also
effective July 1, 2017. Mr. Sblendorio will retain his role as President
and has been nominated as a Class 1 director for election at the
Company’s upcoming annual meeting of stockholders. The Company also
announced the promotion of David F. Carroll to Chief Financial Officer
and Treasurer, effective immediately. Mr. Carroll was previously Senior
Vice President, Finance, of the Company.

“I have confidence that under Glenn’s leadership as CEO the Company will
continue to execute on our plan to achieve the best results for
shareholders in the near and long term,” stated Dr. Guyer. “I look
forward to continuing to work closely with Glenn and the management team
as the Executive Chairman of the Company.”

“As the Company continues to review strategic alternatives and actively
explores potentially obtaining rights to additional products, product
candidates and technologies to treat ophthalmic diseases, particularly
those of the back of the eye, David Guyer’s extensive expertise and
experience brings a wealth of ophthalmology knowledge that is critical
as we execute a strategy to maximize shareholder value,” stated Mr.
Sblendorio. “In this newly created role of Executive Chairman, I look
forward to David’s continued guidance and contributions to Ophthotech.
Additionally, I look forward to working closely with Dave Carroll in his
new position as Chief Financial Officer and to his continued
contributions to the Company.”

Biographical Information

David R. Guyer, M.D. is a co-founder of
Ophthotech and has served as Chairman of the Board since the Company’s
inception in 2007 and as the Chief Executive Officer of Ophthotech since
April 2013. Previously Dr. Guyer worked as a venture capitalist and
Partner at SV Life Sciences. He has significant medical, drug
development and commercial experience in ophthalmology.

Following a successful career in academic medicine as Professor and
Chairman of the Department of Ophthalmology at New York University
School of Medicine, Dr. Guyer co-founded and served as CEO and a member
of the Board of Directors of Eyetech Pharmaceuticals, Inc., where he
oversaw the rapid development and successful commercialization of Macugen^®
(pegaptanib sodium), the first FDA-approved anti-VEGF pharmacological
treatment for wet age-related macular degeneration. Dr. Guyer received
his BS degree from Yale College summa cum laude and his MD from Johns
Hopkins Medical School. He completed his ophthalmology residency at
Wilmer Ophthalmological Institute at Johns Hopkins Hospital and a
retinal fellowship at the Massachusetts Eye and Ear Infirmary at Harvard
Medical School.

Glenn P. Sblendorio joined Ophthotech in 2016 as Executive
Vice President, Chief Operating Officer and Chief Financial Officer and
was appointed President in January 2017 while continuing to serve as
Chief Financial Officer. Mr. Sblendorio also served as a member of the
Board of Directors of Ophthotech from 2013 to 2016. Prior to joining
Ophthotech, he served as President and Chief Financial Officer and
member of the Board of Directors of The Medicines Company from 2006 to
2016. Mr. Sblendorio served as Executive Vice President and Chief
Financial Officer of Eyetech Pharmaceuticals, Inc. from 2002 through
2005 when it was sold to OSI Pharmaceuticals. From 2000 through 2002, he
held the title of Senior Vice President of Business Development for The
Medicines Company. His pharmaceutical experience also includes 12 years
at Hoffmann-LaRoche, Inc. in a variety of senior financial positions.
Mr. Sblendorio currently serves on the Board of Directors of Amicus
Therapeutics and Intercept Pharmaceuticals. Mr. Sblendorio received his
BBA from Pace University and an MBA from Fairleigh Dickinson University
and is a graduate of the Harvard Business School Advanced Management
Program.

David F. Carroll joined Ophthotech in 2016 and has more
than 25 years of experience in the life sciences industry. Prior to
joining the Company, Mr. Carroll spent eight years at The Medicines
Company in several senior financial leadership roles, including Vice
President, Controller and most recently, Senior Vice President, Chief
Accounting Officer. Earlier in his career, Mr. Carroll served in various
financial management positions of increasing responsibility for
Genentech, Novartis, and Bristol-Myers Squibb. Mr. Carroll is a
certified public accountant and received a BA from Ursinus College magna
cum laude and an MBA from Rutgers University.

About Ophthotech Corporation

Ophthotech is a biopharmaceutical company specializing in the
development of novel therapeutics for diseases of the eye. For more
information, please visit www.ophthotech.com.

Forward-looking Statements

Any statements in this press release about Ophthotech’s future
expectations, plans and prospects constitute forward-looking statements
for purposes of the safe harbor provisions under the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include any
statements about Ophthotech’s strategy, future operations and future
expectations and plans and prospects for Ophthotech, and any other
statements containing the words “anticipate,” “believe,” “estimate,”
“expect,” “intend”, “goal,” “may”, “might,” “plan,” “predict,”
“project,” “target,” “potential,” “will,” “would,” “could,” “should,”
“continue,” and similar expressions. In this press release, Ophthotech’s
forward looking statements include statements about the implementation
of its new strategic plan. Such forward-looking statements involve
substantial risks and uncertainties that could cause Ophthotech’s
clinical development programs, future results, performance or
achievements to differ significantly from those expressed or implied by
the forward-looking statements. Such risks and uncertainties include,
among others, those related to the negotiation and consummation of
in-license and/or acquisition transactions, initiation and conduct of
clinical trials, availability of data from clinical trials and
expectations for regulatory approvals or other actions and other factors
discussed in the “Risk Factors” section contained in the quarterly and
annual reports that Ophthotech files with the Securities and Exchange
Commission. Any forward-looking statements represent Ophthotech’s views
only as of the date of this press release. Ophthotech anticipates that
subsequent events and developments will cause its views to change. While
Ophthotech may elect to update these forward-looking statements at some
point in the future, Ophthotech specifically disclaims any obligation to
do so except as required by law.

OPHT-G

Contacts

Investors
Ophthotech Corporation
Kathy Galante,
212-845-8231
Vice President, Investor Relations and Corporate
Communications
kathy.galante@ophthotech.com
or
Media
SmithSolve
LLC on behalf of Ophthotech Corporation
Alex Van Rees,
973-442-1555 ext. 111
alex.vanrees@smithsolve.com