SAN DIEGO, April 28, 2005 /PRNewswire-FirstCall via COMTEX/ —ACADIA Pharmaceuticals Inc.(Nasdaq: ACAD), a biopharmaceutical company utilizing innovative technology tofuel drug discovery and clinical development of novel treatments for centralnervous system disorders, today announced the election of Mary Ann Gray, Ph.D.to its board of directors on April 27, 2005. The board of directors alsoappointed Dr. Gray to its audit committee. Dr. Gray will serve as a Class Idirector and has been nominated by the board to stand for re-election at theannual meeting of stockholders in June 2005.
"We are delighted that Mary Ann Gray has joined ACADIA's board," said UliHacksell, Ph.D., Chief Executive Officer of ACADIA. "Her unique blend of WallStreet, financial, and scientific experience in the industry will be avaluable asset as we continue to advance our clinical programs and positionACADIA for future growth."
Dr. Gray succeeds Carl L. Gordon, Ph.D., who resigned from ACADIA's boardof directors on April 27, 2005. "Carl Gordon has provided invaluable businessguidance during his tenure on our board," said Dr. Hacksell. "We deeplyappreciate the many significant contributions made by Carl over the pastseveral years as we leveraged our discovery capabilities to produce aportfolio of product candidates and transitioned to a publicly-held company."
Dr. Gray has more than 20 years of experience in the biotechnology andbiopharmaceutical industry. She is currently President of Gray StrategicAdvisors, LLC, a biotechnology strategic planning and advisory firm, andserves on the boards of directors of Telik Inc. and Dyax Corp. Previously,she was Senior Analyst and Portfolio Manager for the Federated Kaufmann Fund.Dr. Gray also led biotechnology equity research groups at Raymond James &Associates, Warburg Dillon Read, and Kidder Peabody. Dr. Gray began hercareer as a scientist focused on new drug development at Schering-Plough andNeoRx Corporation. She holds a Ph.D. in pharmacology from the University ofVermont and completed her post-doctoral work at Northwestern UniversityMedical School and at the Yale University School of Medicine.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals is a biopharmaceutical company utilizing innovativetechnology to fuel drug discovery and clinical development of novel treatmentsfor central nervous system disorders. ACADIA currently has four drug programsin clinical development as well as a portfolio of preclinical and discoveryassets directed at large unmet medical needs, including schizophrenia,Parkinson's disease, neuropathic pain, and glaucoma. Using its proprietarydrug discovery platform, ACADIA has discovered all of the drug candidates inits product pipeline. ACADIA's corporate headquarters is located in SanDiego, California and it maintains research and development operations in bothSan Diego and Scandinavia.
Forward-Looking Statements
This release contains forward-looking statements that involve risks anduncertainties, including statements with respect to the growth of ACADIA andthe advancement of its research and clinical programs. Actual events orresults may differ materially from those projected in any forward-lookingstatements due to various factors, including the risks and uncertaintiesinherent in drug development and commercialization. Among the factors thatcould cause actual results to differ materially from those indicated by suchforward-looking statements are: the results of research, development andclinical trials; the timing and success of submission, acceptance, andapproval of regulatory filings; and certain other factors that are detailed inACADIA's annual report on Form 10-K for the year ended December 31, 2004 filedwith the United States Securities and Exchange Commission. In addition, thestatements in this press release represent ACADIA's expectations and beliefsas of the date of this release. These forward-looking statements should notbe relied upon as representing ACADIA's expectations or beliefs as of any datesubsequent to the date of this press release.
Contacts:
ACADIA Pharmaceuticals Inc.
Lisa Barthelemy, Director, Investor Relations
Thomas H. Aasen, Vice President and Chief Financial Officer
(858) 558-2871
Lisa Barthelemy, Director, Investor Relations, or Thomas H. Aasen, Vice President anChief Financial Officer, both of ACADIA Pharmaceuticals Inc., +1-858-558-2871