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EyeGate Pharmaceuticals Surges 50% After Naming New CEO

Shares of nano-cap company EyeGate Pharmaceuticals Inc. (EYEG) surged over 50% on Tuesday morning after the company appointed a new Chief Executive Officer.

EYEG is currently trading at $4.68, up $1.56 or 50.00%, on the Nasdaq, on a volume of 24 million shares, far above its average volume of 108 thousand.

EyeGate, a clinical-stage company developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and nervous system, has appointed Brian Strem as President, Chief Executive Officer and board member, effective immediately.

Strem is former CEO of Okogen Inc as well as Co-Founder and Managing Director of Bayon Therapeutics. He brings strategic expertise, scientific acumen and drug development experience in ophthalmology, otology and regenerative medicine to his new role.

Further, EyeGate has agreed to buy Bayon Therapeutics, a private ophthalmic specialty pharmaceutical company focused on using light sensitive 'photoswitch' small molecules, specifically designed to restore vision in patients with inherited and age-related degenerative retinal diseases.

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