SAN DIEGO—(BUSINESS WIRE)—Sep. 3, 2015—ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical companyfocused on the development and commercialization of innovative medicinesto address unmet medical needs in central nervous system disorders,today announced that its Board of Directors has appointed Steve Davis asPresident and Chief Executive Officer. Mr. Davis has been serving asACADIA’s Interim Chief Executive Officer since March 2015. Mr. Davis hasalso been appointed to the ACADIA Board of Directors.
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Steve Davis, Chief Executive Officer of ACADIA Pharmaceuticals (Photo: Business Wire)
“We are delighted that Steve is our Chief Executive Officer,” saidLeslie L. Iversen, Ph.D., ACADIA’s Chairman of the Board. “He is anaccomplished leader and since joining ACADIA, Steve has done atremendous job of aligning ACADIA’s operations with our short-term andlong-term goals, continuing the build-out of our capabilities, andpositioning the Company for strong growth. I have great confidence inSteve leading ACADIA through our next stage of growth as we bringinnovative treatments such as NUPLAZID™ to CNS disease stateswith high unmet medical needs.”
“With Breakthrough Therapy designation and our submission of the NewDrug Application for NUPLAZID for Parkinson’s disease psychosis, we havean opportunity to transform the treatment of psychosis and significantlyimprove the lives of these patients,” said Steve Davis, ACADIA’s ChiefExecutive Officer. “We are building on our momentum as we prepare forthe expected launch of NUPLAZID in the United States and continue ourefforts to explore the full potential of NUPLAZID to treat patientssuffering from additional CNS disorders.”
Mr. Davis brings over 20 years of executive-level experience in thepharmaceutical industry and more than 20 years of experience on theboards of directors of publicly held biopharmaceutical companies. Hejoined ACADIA in July 2014 as Executive Vice President, Chief FinancialOfficer and Chief Business Officer and was appointed Interim ChiefExecutive Officer in March 2015. Previously, Mr. Davis served asExecutive Vice President and Chief Operating Officer at HeronTherapeutics, Inc., Executive Vice President and Chief Operating Officerat Ardea Biosciences, Inc., and in numerous executive roles at NeurogenCorporation, including Chief Executive Officer. Mr. Davis currentlyserves on the Board of Directors of Bellicum Pharmaceuticals, Inc. Healso recently served on the boards of directors of Synageva BioPharmaCorp., Heron Therapeutics, and Furiex Pharmaceuticals, Inc.
Early in his career, Mr. Davis practiced as a Certified PublicAccountant with a major accounting firm and as a corporate andsecurities attorney with a Wall Street law firm. Mr. Davis received hisBachelor of Science degree in Accounting from Southern NazareneUniversity and a J.D. from Vanderbilt University.
Separately, ACADIA issued a news release today announcing that it hassubmitted a New Drug Application (NDA) to the U.S. Food and DrugAdministration (FDA) seeking approval for NUPLAZID (pimavanserin)for the treatment of psychosis associated with Parkinson’s disease.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development andcommercialization of innovative medicines to address unmet medical needsin central nervous system disorders. ACADIA has a pipeline of productcandidates led by NUPLAZID™ (pimavanserin), for which we have submitteda New Drug Application in Parkinson’s disease psychosis to the FDA andwhich has the potential to be the first drug approved in the UnitedStates for this condition. Pimavanserin is also in Phase II developmentfor Alzheimer’s disease psychosis and has successfully completed a PhaseII trial in schizophrenia. ACADIA also has clinical-stage programs forchronic pain and glaucoma in collaboration with Allergan, Inc. Allproduct candidates are small molecules that emanate from internaldiscoveries. ACADIA maintains a website at www.acadia-pharm.comto which we regularly post copies of our press releases as well asadditional information and through which interested parties cansubscribe to receive e-mail 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 ACADIA’s positioning for stronggrowth; ACADIA’s ability to bring innovative treatments such as NUPLAZIDto CNS disease states with high unmet medical needs; the potential forNUPLAZID (pimavanserin) to be the first drug approved in the UnitedStates for Parkinson’s disease psychosis (PDP), if approved at all, andthe expected launch of NUPLAZID for PDP; ACADIA’s opportunity totransform the treatment of psychosis and significantly improve the livesof patients with PDP with NUPLAZID; the potential of NUPLAZID to treatpatients suffering from CNS disorders other than PDP; and the progress,timing and results of ACADIA’s drug discovery and development programs,either alone or with a partner, including the progress and expectedtiming of clinical trials. These statements are only predictions basedon current information and expectations and involve a number of risksand uncertainties. Actual events or results may differ materially fromthose projected in any of such statements due to various factors,including the risks and uncertainties inherent in drug discovery,development, approval and commercialization, and in collaborations withothers, and the fact that past results of clinical trials may not beindicative of future trial results. For a discussion of these and otherfactors, please refer to ACADIA’s annual report on Form 10-K for theyear ended December 31, 2014 as well as ACADIA’s subsequent filings withthe Securities and Exchange Commission. You are cautioned not to placeundue reliance on these forward-looking statements, which speak only asof 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.
Investor Contacts:
ACADIA Pharmaceuticals Inc.
SteveDavis, Chief Executive Officer
Lisa Barthelemy, Director ofInvestor Relations
(858) 558-2871
or
MediaContact:
Russo Partners
David Schull
(212)845-4271 or (858) 717-2310
david.schull@russopartnersllc.com