[EYETECH LOGO]

FOR IMMEDIATE RELEASE

CONTACT:

KARIN HEHENBERGER, M.D., PH.D.
SENIOR DIRECTOR OF SCIENTIFIC AND EXTERNAL AFFAIRS
Office: 212 824 3176
Facsimile: 212 824 3240
Email: karin.hehenberger@eyetech.com
www.eyetech.com


                          EYETECH ANNOUNCES LAUNCH DATE
                  FOR MACUGEN(R) (PEGAPTANIB SODIUM INJECTION)

NEW YORK, NY - JANUARY 20, 2004 - EYETECH PHARMACEUTICALS, INC. (NASDAQ: EYET)
is pleased to announce that as of today January 20 Macugen(R) (pegaptanib sodium
injection) is available through three distributors, McKesson Specialty, Priority
Healthcare and Besse Medical. These distributors will be providing Macugen
within 24-48 hours to retinal specialists, who will make the product available
to the patients who suffer from neovascular (wet) age-related macular
degeneration (AMD).

"We have worked diligently to make Macugen available to patients as soon as
possible, since there is currently no other medication approved for all
neovascular AMD. This disease represents a large unmet medical need, and Macugen
has been shown to preserve vision," said David R. Guyer, M.D., Chief Executive
Officer of Eyetech Pharmaceuticals.

Macugen was approved by the FDA on December 17, 2004 for use in the treatment of
neovascular AMD, the most common cause of blindness in people older than 50
years of age in developed countries. There are 15 million people in the United
States living with some form of AMD, with more than 1.6 million experiencing the
active blood vessel growth and blood vessel leakage associated with neovascular
AMD. There are over 200,000 new cases of neovascular AMD each year and this
number is expected to increase significantly as the baby boomer generation ages
and overall life expectancy

Eyetech Announces Launch Date for Macugen(R) (pegaptanib sodium injection)
Page 2 of 2


increases. Presently, over 500,000 people worldwide lose their sight annually
from the disease.

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.
Eyetech is commercializing and further developing Macugen(R) (pegaptanib sodium
injection) with Pfizer Inc for the treatment of neovascular AMD. Macugen is also
being studied for the treatment of diabetic macular edema and retinal vein
occlusion.

EYETECH SAFE HARBOR STATEMENT

This press release contains forward-looking statements that involve substantial
risks and uncertainties. You should not place undue reliance on our
forward-looking statements. Various important factors could cause actual results
or events to differ materially from the forward-looking statement that we make,
including risks related to: achieving acceptance of Macugen by the medical
community, by patients receiving therapy and by third party payors; supplying
sufficient quantities of Macugen to meet anticipated market demand; the impact
of competitive products; our dependence on third parties to manufacture Macugen;
new information arising out of clinical trial results; and the success of
Macugen's launch generally. These and other risks in investing in Eyetech are
described in greater detail in the "Risk Factors" section of our most recent
quarterly report on Form 10-Q filed with the SEC. We do not assume any
obligation to update any forward-looking statements.


                                       ###