Study of Topical Ocular PAN-90806 in PDR

Inclusion Criteria:

- Aged 18 years or older with type 1 or type 2 diabetes

- Proliferative diabetic retinopathy (PDR) in study eye retina with or without diabetic
macular edema (DME) involving the center of the macula

- Demonstrate the ability, or have a family member who is willing and able, to instill
topical ocular drops in the study eye

Exclusion Criteria:

- Current or recent use (within the last 3 months) of anti-vascular endothelial growth
factors (anti-VEGF) in either eye;

- Uncontrolled hypertension despite use of antihypertensive medications

- Unwillingness to refrain from wearing contact lenses for the duration of the study.

- Participation in any investigational drug or device study, systemic or ocular, within
past 3 months

- Women who are pregnant or nursing

- Known serious allergies or hypersensitivity to the fluorescein dye used in
angiography or to the components of the PAN-90806 formulation