Megan Baldwin just joined the board of this ASX biotech stock

Megan Baldwin, a biotech executive well-known as CEO of Opthea (ASX:OPT), has come onboard another ASX biotech stock.

Dr Baldwin has been appointed a non-executive director of Invex Therapeutics (ASX:IVX), which also is fighting vision loss.

In the past couple of years under her guidance, Opthea has conducted two successful Phase II trials for its anti-vision loss drug, listed in the US, and set the foundations for larger Phase III clinical trials.

Invex is also targeting a vision loss disease related to fluid leakage, although of a slightly different kind.

Opthea is targeting wet (neovascular) age-related macular degeneration (AMD) and Diabetic Macular Edema (DME) which are both eye diseases caused by fluid leakage into the retina which can cause blindness.

Invex targets Idiopathic Intracranial Hypertension (IIH) which essentially is increased skull pressure resulting from fluid leakage in the skull. This too can lead to permanent vision loss and does in approximately 25 per cent of patients.

It is not yet known how exactly what triggers this process and there are few treatment options.

The usual onset age is 20-30 years, mostly affects obese women and has increased by over 350 per cent in the last 10 years.

Megan Baldwin offers ‘invaluable’ experience

Another similarity between Invex and Opthea is that Invex is planning a Phase III clinical trial this year.

In that context, Invex chairman Jason Loveridge said he was delighted that Dr Baldwin had joined.

“Her substantial experience in drug development, regulatory engagement and clinical trial design and execution will be invaluable for Invex as the company progresses Presendin into Phase III studies during 2021,” he declared.

Both Invex and Opthea shares have stagnated in recent months.

But while Opthea is off all time highs, it is still up over 150 per cent in two years with its key catalyst for growth being its successful Phase II clinical trial against wet AMD in August 2019.