Opus Genetics (IRD) Proxy filing summary

Executive summary

• Annual Meeting scheduled for April 30, 2025, with key votes on board composition and a critical transaction supporting a new gene therapy-focused strategy.

• Transformation followed challenges with legacy assets, including failed clinical trials and out-licensing of key products.

• Acquisition of Legacy Opus in October 2024 brought a promising gene therapy pipeline and a new leadership team.

• Recent capital raise of $21.5 million from leading healthcare investors demonstrates confidence in the new direction.

Voting matters and shareholder proposals

• Stockholders are asked to elect nine board nominees and approve the conversion of preferred stock into common stock to unify the capital structure.

• Board urges votes "FOR" all company nominees and "FOR" the preferred stock conversion proposal (Proposal Four).

• Former CEO Mina Sooch has nominated herself and five associates to the board, opposing the current strategy.

Board of directors and corporate governance

• Board refreshed with three new directors experienced in ophthalmology and biotech following the acquisition.

• Current nominees have backgrounds in clinical development, finance, and intellectual property.

• Board and management conducted a comprehensive review of assets and strategy, leading to the acquisition and transformation.