Outlook Therapeutics, Inc. Logo Outlook Therapeutics Appoints C. Russell Trenary III as President and Chief Executive Officer

Outlook Therapeutics, Inc. Logo

Outlook Therapeutics Appoints C. Russell Trenary III as

President and Chief Executive Officer

Experienced executive with a track-record of successful eye care product launches

Appointment reflects Outlook Therapeutics' dedication to transition to commercial-stage company

ISELIN, N.J., July 07, 2021 (GLOBE NEWSWIRE) -- Outlook

Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company working to develop and launch the first FDA-approved

ophthalmic formulation of bevacizumab for use in retinal indications, today announced the appointment of C. Russell

Trenary III as President, Chief Executive Officer and a member of the Board of Directors. Lawrence A. Kenyon, who has served as

Outlook Therapeutics' President, CEO and CFO since June 2018, will continue serving as CFO and as a member of the Board of

"We are pleased to welcome Russ

to the executive leadership team. We believe his leadership and expertise is an invaluable asset as we look to optimize our position

in the retina industry and prepare to submit a Biologics License Application (BLA) for ONS-5010 and, if approved, launch our commercialization

efforts. With the addition of Russ, we have the right leadership team to develop a fully integrated ophthalmic company," stated

Randy Thurman, Executive Chairman of the Outlook Therapeutics Board of Directors.

Mr. Trenary brings over 35 years of

experience in the life sciences industry, specifically in medical ophthalmic implant sales, marketing, and business development. Over

the course of his career, he has closely led four major product launches in eye care medical devices. Additionally, Mr. Trenary has played

a key role in seven acquisitions including, most recently, the sale of InnFocus, Inc. to Santen.

to be joiningOutlook Therapeutics at such a critical point in the company's history. If approved, ONS-5010 represents a rare opportunity

to transform the standard of care and significantly impact the retina market for years to come," commented Mr. Trenary, President

and Chief Executive Officer of Outlook Therapeutics. "I would like to congratulate Larry and the rest of the executive leadership

team for their efforts in bringingOutlook Therapeutics to this transition point. I look forward to building on this momentum and driving

Outlook Therapeutics to the next transformational phase of growth."

Mr. Trenary joins Outlook Therapeutics

having most recently served as an Executive Advisor at InnFocus Inc., after serving as President & CEO for seven years, including

the company's acquisition in August 2016 by Santen Pharmaceutical Co., Ltd. InnFocus is an early-stage company, pending FDA approval

of the PRESERFLO MicroShunt glaucoma device, and other microsurgical solutions for glaucoma based on SIBS technology. Prior to that,

he served as President and CEO of G&H Orthodontics, a global medical device company, and served in a number of senior leadership

positions at Advanced Medical Optics (AMO), Inc., including as President of the cataract business unit. Prior to that, Mr. Trenary held

C-suite positions at Sunrise Technologies International, Inc., served as Senior Vice President, Worldwide Sales & Marketing / Officer

at VidaMed, Inc. and held several senior leadership roles at Allergan, Inc., including as Senior Vice President and General Manager of

the Medical Optics business unit.

Mr. Thurman on behalf of the Board

of Outlook Therapeutics added, "We are very fortunate to be able to bring Russ on to theOutlook Therapeutics team at this important

point in the ONS-5010 program. Russ' history of providing experienced CEO leadership, multiple successful eye health related product

launches and value creation for shareholders will be important as we turn our focus to building Outlook Therapeutics and launching the

next phase for ONS-5010. We are excited about the continued evolution of Outlook Therapeutics and believe we are poised for continued

progress in the near and long-term. Furthermore, the Board would like to thank Larry Kenyon who has served as Outlook's President,

CEO and CFO for the last 3 years. During that time, Larry successfully restructured the company, completed several rounds of fundraising

and led Outlook Therapeutics to this successful moment of transition. We are very pleased that Larry will continue as Chief Financial

Officer and a member of our Board."

Outlook Therapeutics remains on track

to report topline data from its pivotal NORSE TWO safety and efficacy study evaluating ONS-5010 (bevacizumab-vikg) for treatment of wet

age-related macular degeneration (wet AMD) in the third calendar quarter of 2021. Following the data readout for NORSE TWO, Outlook Therapeutics

plans to submit a new BLA filing under the PHSA 351(a) regulatory pathway in the first quarter of calendar 2022. If the BLA is approved,

it will result in 12 years of marketing exclusivity for ONS-5010 as the first and only ophthalmic formulation of bevacizumab approved

by the FDA to treat wet AMD.

Outlook Therapeutics is also developing

registration documents on a parallel path for approvals in Europe and expects to submit them shortly after completing the filing to the

FDA. While Outlook Therapeutics continues to target potential strategic commercialization partners, particularly for European markets,

it is preparing to launch ONS-5010 in the United States by itself, pending FDA approval.

About Outlook Therapeutics, Inc.

Outlook Therapeutics is a biopharmaceutical

company working to develop and launch ONS-5010 / LYTENAVA (bevacizumab-vikg) as the first FDA-approved ophthalmic formulation

of bevacizumab for use in retinal indications, including wet AMD, DME and BRVO. If ONS-5010 ophthalmic bevacizumab is approved, Outlook

Therapeutics expects to commercialize it as the first and only FDA-approved ophthalmic formulation of bevacizumab for use in treating

retinal diseases in the United States, United Kingdom, Europe, Japan and other markets. Outlook Therapeutics expects to file ONS-5010

ophthalmic bevacizumab with the U.S. FDA as a new BLA under the PHSA 351(a) regulatory pathway. For more information, please visit www.outlooktherapeutics.com.

Forward-Looking Statements

This press release contains

forward-looking statements. All statements other than statements of historical facts are "forward-looking statements," including

those relating to future events. In some cases, you can identify forward-looking statements by terminology such as "may,"

"might," "will," "should," "expect," "plan," "anticipate," "project,"

"believe," "estimate," "predict," "potential," "intend" or "continue,"

the negative of terms like the other comparable terminology, and other words or terms of similar meaning. These include, among others,

statements about the timing of completion of, and pivotal safety and efficacy data from, NORSE 2, ONS-5010's potential as the first

FDA-approved ophthalmic formulation of bevacizumab-vikg, including benefits therefrom to patients, payors and physicians, including expectations

of market exclusivity, the timing of BLA submission and commercial launch of ONS-5010, and plans for regulatory approvals in other markets.

Although Outlook Therapeutics believes that it has a reasonable basis for the forward-looking statements contained herein, they are based

on current expectations about future events affecting Outlook Therapeutics and are subject to risks, uncertainties and factors relating

to its operations and business environment, all of which are difficult to predict and many of which are beyond its control. These risk

factors include those risks associated with developing pharmaceutical product candidates, risks of conducting clinical trials and risks

in obtaining necessary regulatory approvals, as well as those risks detailed in Outlook Therapeutics' filings with the Securities

and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended September 30, 2020, as amended, and subsequent

Quarterly Reports on Form 10-Q, which include the uncertainty of future impacts related to the ongoing COVID-19 pandemic. These risks

may cause actual results to differ materially from those expressed or implied by forward-looking statements in this press release. All

forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Outlook Therapeutics

does not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information,

future events or otherwise, except as may be required under applicable securities law.

LaVoie Health Science

Chief Executive Officer

Source: Outlook Therapeutics, Inc.