ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical
company focused on the development and commercialization of
innovative medicines to address unmet medical needs in central
nervous system (CNS) disorders, today announced that Damien
McDevitt, Ph.D., has joined ACADIA as Senior Vice President,
Corporate Development, leading the company’s corporate development
activities. He will report to Steve Davis, ACADIA’s President and
Chief Executive Officer.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171213005273/en/
Damien McDevitt, Ph.D., Senior Vice
President, Corporate Development (Photo: Business Wire)
“We are thrilled to welcome Damien to the team,” said Steve
Davis. “Damien has extensive experience in business development,
licensing and strategic partnering, and he has completed dozens of
value-creating transactions. This expertise, combined with his
strong strategic and technical background, will be of great value
as we continue to explore the potential for expanding our CNS
portfolio.”
Dr. McDevitt joins ACADIA after more than two decades at
GlaxoSmithKline plc, where he was at the forefront of the R&D
externalization effort, and involved in more than 70 global
business development transactions spanning a variety of therapeutic
areas, including neuroscience. Most recently, he was Vice
President, Head of Business Development for R&D Extended
Therapy Areas, Head of Worldwide Business Development Asia, and
head of the company’s R&D West Coast Satellite. Prior to that,
Dr. McDevitt held positions with increasing responsibility within
Worldwide Business Development, GSK Ventures and Anti-Infectives
Discovery. Dr. McDevitt attended Trinity College in Dublin,
Ireland, where he earned his Ph.D. and his undergraduate degree,
both in Microbiology. He is an author of 70 scientific publications
and published patents.
ACADIA also announced that Jim Nash, Senior Vice President,
Technology Development and Operations, will be retiring from the
company as of January 2018. Bob Mischler, formerly Senior Vice
President, Strategy and Business Development, will assume
responsibilities for technology development and operations in
addition to continuing his strategy responsibilities in the new
role of Senior Vice President, Strategy and Technology
Operations.
“We thank Jim for his significant contributions over the past
several years,” said Mr. Davis. “Under his leadership, ACADIA
expanded its manufacturing, pharmaceutical development and GMP
quality assurance operations, all of which were critical to the
approval and commercialization of NUPLAZID. We wish Jim well in his
retirement.”
About NUPLAZID® (pimavanserin)NUPLAZID is the first and only
FDA-approved treatment for hallucinations and delusions associated
with Parkinson’s disease psychosis (PD Psychosis). NUPLAZID is a
non-dopaminergic, selective serotonin inverse agonist
preferentially targeting 5-HT2A receptors that are thought to play
an important role in PD Psychosis. NUPLAZID is an oral medicine
taken once a day with a recommended dose of 34 mg (two 17-mg
tablets). ACADIA discovered this new chemical entity and holds
worldwide rights to develop and commercialize NUPLAZID.
About ACADIA PharmaceuticalsACADIA is a biopharmaceutical
company focused on the development and commercialization of
innovative medicines to address unmet medical needs in central
nervous system disorders. ACADIA maintains a website at
www.acadia-pharm.com to which we regularly post copies of our press
releases as well as additional information and through which
interested parties can subscribe to receive e-mail alerts.
Forward-Looking StatementsStatements in this press release that
are not strictly historical in nature are forward-looking
statements. These statements include but are not limited to
statements related to the benefits to be derived from NUPLAZID
(pimavanserin) and the potential expansion of ACADIA’s CNS
portfolio. These statements are only predictions based on current
information and expectations and involve a number of risks and
uncertainties. Actual events or results may differ materially from
those projected in any of such statements due to various factors,
including the risks and uncertainties inherent in drug discovery,
development, approval, and commercialization, and the fact that
past results of clinical trials may not be indicative of future
trial results. For a discussion of these and other factors, please
refer to ACADIA’s annual report on Form 10-K for the year ended
December 31, 2016 as well as ACADIA’s subsequent filings with the
Securities and Exchange Commission. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. This caution is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. All forward-looking statements are qualified in their
entirety by this cautionary statement and ACADIA undertakes no
obligation to revise or update this press release to reflect events
or circumstances after the date hereof, except as required by
law.
Important Safety Information and
Indication for NUPLAZID (pimavanserin)
tabletsWARNING: INCREASED MORTALITY IN ELDERLY
PATIENTS WITH DEMENTIA-RELATED PSYCHOSISElderly patients
with dementia-related psychosis treated with antipsychotic drugs
are at an increased risk of death. NUPLAZID is not approved for the
treatment of patients with dementia-related psychosis unrelated to
the hallucinations and delusions associated with Parkinson’s
disease psychosis.
NUPLAZID is an atypical antipsychotic indicated for the
treatment of hallucinations and delusions associated with
Parkinson’s disease psychosis.
Contraindication: NUPLAZID is contraindicated in patients with a
history of a hypersensitivity reaction to pimavanserin or any of
its components. Rash, urticaria, and reactions consistent with
angioedema (e.g., tongue swelling, circumoral edema, throat
tightness, and dyspnea) have been reported.
QT Interval Prolongation: NUPLAZID prolongs the QT interval. The
use of NUPLAZID should be avoided in patients with known QT
prolongation or in combination with other drugs known to prolong QT
interval including Class 1A antiarrhythmics or Class 3
antiarrhythmics, certain antipsychotic medications, and certain
antibiotics. NUPLAZID should also be avoided in patients with a
history of cardiac arrhythmias, as well as other circumstances that
may increase the risk of the occurrence of torsade de pointes
and/or sudden death, including symptomatic bradycardia, hypokalemia
or hypomagnesemia, and presence of congenital prolongation of the
QT interval.
Adverse Reactions: The most common adverse reactions (≥2% for
NUPLAZID and greater than placebo) were peripheral edema (7% vs
2%), nausea (7% vs 4%), confusional state (6% vs 3%), hallucination
(5% vs 3%), constipation (4% vs 3%), and gait disturbance (2% vs
<1%).
Drug Interactions: Strong CYP3A4 inhibitors (eg, ketoconazole)
increase NUPLAZID concentrations. Reduce the NUPLAZID dose by
one-half. Strong CYP3A4 inducers may reduce NUPLAZID exposure,
monitor for reduced efficacy. Increase in NUPLAZID dosage may be
needed.
Renal Impairment: No dosage adjustment for NUPLAZID is needed in
patients with mild to moderate renal impairment. Use of NUPLAZID is
not recommended in patients with severe renal impairment.
Hepatic Impairment: Use of NUPLAZID is not recommended in
patients with hepatic impairment. NUPLAZID has not been evaluated
in this patient population.
Pregnancy: Use of NUPLAZID in pregnant women has not been
evaluated and should therefore be used in pregnancy only if the
potential benefit justifies the potential risk to the mother and
fetus.
Pediatric Use: Safety and efficacy have not been established in
pediatric patients.
Dosage and Administration: Recommended dose: 34 mg per day,
taken orally as two 17-mg tablets once daily, without
titration.
For additional Important Safety Information, including boxed
warning, please see the full Prescribing Information for NUPLAZID
at
https://www.nuplazid.com/pdf/NUPLAZID_Prescribing_Information.pdf.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171213005273/en/
Investor Contact:ACADIA Pharmaceuticals Inc.Lisa Barthelemy(858)
558-2871ir@acadia-pharm.comorMedia Contact:Taft CommunicationsBob
Laverty(609) 558-5570bob@taftcommunications.com
Acadia Pharmaceuticals (NASDAQ:ACAD)
Historical Stock Chart
From Apr 2024 to May 2024
Acadia Pharmaceuticals (NASDAQ:ACAD)
Historical Stock Chart
From May 2023 to May 2024