SAN DIEGO—(BUSINESS WIRE)—Jan. 30, 2012—ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), a biopharmaceutical companyutilizing innovative technology to fuel drug discovery and clinicaldevelopment of novel treatments for central nervous system disorders,today announced the election of William (Bill) M. Wells to its board ofdirectors.
“We are very pleased to have Bill join ACADIA’s board,” said UliHacksell, Ph.D., ACADIA’s Chief Executive Officer. “His extensivebusiness experience and leadership role in establishing a successfulCNS-focused specialty pharmaceutical company will enhance our board’scollective expertise. ACADIA will benefit from Bill’s experience andperspective as we continue to advance our pipeline of productcandidates, which is led by our Phase III pimavanserin program, andposition pimavanserin for commercial success in the specialty neurologymarket.”
Mr. Wells was Chief Executive Officer of Biovail Corporation from May2008 through the time of its merger with Valeant PharmaceuticalsInternational, Inc. in September 2010, during which time he ledBiovail’s strategic transformation into a specialty pharmaceuticalcompany focused on specialty central nervous system markets. Followingthe merger, Mr. Wells served as Chairman of Valeant until December 2010.He was originally elected to the board of directors of Biovail in June2005 and later served as Lead Director until his appointment as ChiefExecutive Officer. Prior to joining Biovail, Mr. Wells held a number ofsenior executive positions, including Chief Financial Officer of LoblawCompanies Limited, Canada’s largest food distributor and a leadingprovider of general merchandise products, drugstore and financialproducts and services, Chief Financial Officer of Bunge Limited, a U.S.headquartered company engaged in the global agribusiness, fertilizer andfood product industries, and financial management positions atMcDonald’s Corporation in the U.S. and Brazil. Mr. Wells is currentlyChairman of the Board of Evizone Ltd., a privately held onlinecommunications service firm, and a Trustee and member of the auditcommittee of the Lakefield College School Foundation. Mr. Wells holds aMaster’s degree in International Business from the University of SouthCarolina and a Bachelor’s degree in Philosophy and English from theUniversity of Western Ontario.
“I am delighted to join the board and have the opportunity to work withthe ACADIA team again,” said Bill Wells. “I look forward to being a partof ACADIA during this exciting stage as we work to develop andcommercialize promising new drugs like pimavanserin that offer thepotential to improve the lives of patients suffering from neurologicaland psychiatric disorders.”
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company utilizing innovative technology tofuel drug discovery and clinical development of novel treatments forcentral nervous system disorders. ACADIA has four product candidates inclinical development including pimavanserin, which is in Phase IIIdevelopment as a potential first-in-class treatment for Parkinson’sdisease psychosis. ACADIA also has a product candidate in Phase IIdevelopment for chronic pain and a product candidate in Phase Idevelopment for glaucoma, both in collaboration with Allergan, Inc., andAM-831 in Phase I development for schizophrenia in collaboration withMeiji Seika Pharma Co., Ltd. All of the product candidates in ACADIA’spipeline emanate from discoveries made using its proprietary drugdiscovery platform. ACADIA maintains a website at www.acadia-pharm.comto which ACADIA regularly posts copies of its press releases as well asadditional information and through which interested parties cansubscribe to receive email alerts.
Forward-Looking Statements
Statements in this press release that are not strictly historical innature are forward-looking statements. These statements include but arenot limited to statements related to the potential benefits to ACADIAfrom this addition to its board, and to the potential benefits of orfuture commercial success of any product candidate in ACADIA’s pipeline.These statements are only predictions based on current information andexpectations and involve a number of risks and uncertainties. Actualevents or results may differ materially from those projected in any ofsuch statements due to various factors, including the risks anduncertainties inherent in drug discovery, development andcommercialization, and the fact that past results of clinical trials maynot be indicative of future trial results. For a discussion of these andother factors, please refer to ACADIA’s annual report on Form 10-K forthe year ended December 31, 2010 as well as other subsequent filingswith the Securities and Exchange Commission. You are cautioned not toplace undue reliance on these forward-looking statements, which speakonly as of the date hereof. This caution is made under the safe harborprovisions of the Private Securities Litigation Reform Act of 1995. Allforward-looking statements are qualified in their entirety by thiscautionary statement and ACADIA undertakes no obligation to revise orupdate this press release to reflect events or circumstances after thedate hereof, except as required by law.
Source: ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc.
Uli Hacksell, Ph.D., ChiefExecutive Officer
(858) 558-2871