Exhibit 99.1

[EYETECH LOGO]

FOR IMMEDIATE RELEASE
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Contact:

Karin Hehenberger M.D., Ph.D.
Senior Director, Scientific and External Affairs
Office: (212) 824-3176
Fax: (212) 824-3240
Email : karin.hehenberger@eyetech.com
www.eyetech.com

      Eyetech Pharmaceuticals, Inc. Acquires Potential Second Source Supply
              Further Solidifying Commitment to Aptamer Production

NEW YORK, November 15, 2004-- Eyetech Pharmaceuticals, Inc. (Nasdaq: EYET) has
purchased most of the assets of the Transgenomic, Inc. (Nasdaq: TBIO)
oligonucleotide manufacturing facility, located in Boulder, Colorado. The
purchase price was $3.0 million in cash, plus the assumption of certain
equipment and facilities leases associated with the facility. The facility
provided contract manufacturing services for pre-clinical and clinical products
that support the development of nucleic acid-based therapeutic and diagnostic
products.

"We consider Transgenomic Boulder to be a leading facility in the area of
oligonucleotide manufacturing with a team of first class employees and we are
pleased to announce this deal," said David R. Guyer, M.D., Eyetech's Chief
Executive Officer. "Eyetech is focused on delivering life-improving therapies to
patients. This agreement expands on our current product development and
manufacturing capabilities and will allow us flexibility to respond to current
and future demands for aptamer products critical to our business strategy."


Eyetech Pharmaceuticals,Inc. Acquires Potential Second Source Supply Further
Solidifying Commitment to Aptamer Production
Page 2 of 3

Together with its workforce, the Boulder facility provides unique strength and
expertise in supporting the manufacture of next-generation nucleic acid
chemistries during the transition from the bench to early production-scale
manufacture for clinical trials. Eyetech views this purchase as a strategic
investment that expands the company's capabilities in the field of
oligonucleotide synthesis. Eyetech plans to invest in appropriate infrastructure
at the manufacturing facility in Boulder to prepare it as a second-source for
commercial scale production of the active pharmaceutical ingredient (API) for
Macugen(TM) (pegaptanib sodium injection), which, after regulatory approval,
would be sold by Eyetech and Pfizer Inc under their collaboration. In addition,
Eyetech plans to use the current assets to produce aptamers, and potentially
other oligonucleotides, in support of internal development programs for its
ophthalmic pipeline.

About Eyetech Pharmaceuticals, Inc.

Eyetech Pharmaceuticals, Inc. is a biopharmaceutical company that specializes in
the development and commercialization of novel therapeutics to treat diseases of
the eye. Eyetech's initial focus is on diseases affecting the back of the eye.
The company's most advanced product candidate is Macugen(TM) (pegaptanib sodium
injection), which Eyetech is developing with Pfizer Inc for the prevention and
treatment of diseases of the eye and related conditions. Eyetech's lead clinical
trials include two phase 2/3 pivotal clinical trials for the use of Macugen in
the treatment of neovascular age-related macular degeneration, a phase 2
clinical trial for the use of Macugen for the treatment of diabetic macular
edema and a phase 2 clinical trial for the use of Macugen in the treatment of
retinal vein occlusion.

Eyetech Safe Harbor Statement

This press release contains forward-looking statements that involve substantial
risks and uncertainties. All statements, other than statements of historical
facts, included in this press release regarding our plans and objectives of
management are forward-looking statements. We may not actually achieve the
plans, intentions or expectations disclosed in


Eyetech Pharmaceuticals,Inc. Acquires Potential Second Source Supply Further
Solidifying Commitment to Aptamer Production
Page 2 of 3

our forward-looking statements and you should not place undue reliance on our
forward-looking statements. Actual results or events could differ materially
from the plans, intentions and expectations disclosed in the forward-looking
statements we make. Various important factors could cause actual results or
events to differ materially from the forward-looking statements that we make,
including risks related to: new information arising out of the preliminary
clinical trial results, our heavy dependence on the success of Macugen, which is
still under development; our dependence on our strategic collaboration with
Pfizer; obtaining regulatory approval to market Macugen and any other products
that we may develop in the future; our dependence on third parties to
manufacture Macugen; obtaining, maintaining and protecting the intellectual
property incorporated into our product candidates; and our ability to obtain
additional funding to support our business activities. These and other risks are
described in greater detail in the "Risk Factors" section of our most recent
quarterly report on Form 10-Q filed with the SEC. Our forward-looking statements
do not reflect the potential impact of any future acquisitions, mergers,
dispositions, joint ventures or investments we may make. We do not assume any
obligation to update any forward-looking statements.

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