SAN DIEGO—(BUSINESS WIRE)—Jan. 30, 2012—ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), a biopharmaceutical company
utilizing innovative technology to fuel drug discovery and clinical
development of novel treatments for central nervous system disorders,
today announced the election of William (Bill) M. Wells to its board of
directors.
“We are very pleased to have Bill join ACADIA’s board,” said Uli
Hacksell, Ph.D., ACADIA’s Chief Executive Officer. “His extensive
business experience and leadership role in establishing a successful
CNS-focused specialty pharmaceutical company will enhance our board’s
collective expertise. ACADIA will benefit from Bill’s experience and
perspective as we continue to advance our pipeline of product
candidates, which is led by our Phase III pimavanserin program, and
position pimavanserin for commercial success in the specialty neurology
market.”
Mr. Wells was Chief Executive Officer of Biovail Corporation from May
2008 through the time of its merger with Valeant Pharmaceuticals
International, Inc. in September 2010, during which time he led
Biovail’s strategic transformation into a specialty pharmaceutical
company focused on specialty central nervous system markets. Following
the merger, Mr. Wells served as Chairman of Valeant until December 2010.
He was originally elected to the board of directors of Biovail in June
2005 and later served as Lead Director until his appointment as Chief
Executive Officer. Prior to joining Biovail, Mr. Wells held a number of
senior executive positions, including Chief Financial Officer of Loblaw
Companies Limited, Canada’s largest food distributor and a leading
provider of general merchandise products, drugstore and financial
products and services, Chief Financial Officer of Bunge Limited, a U.S.
headquartered company engaged in the global agribusiness, fertilizer and
food product industries, and financial management positions at
McDonald’s Corporation in the U.S. and Brazil. Mr. Wells is currently
Chairman of the Board of Evizone Ltd., a privately held online
communications service firm, and a Trustee and member of the audit
committee of the Lakefield College School Foundation. Mr. Wells holds a
Master’s degree in International Business from the University of South
Carolina and a Bachelor’s degree in Philosophy and English from the
University of Western Ontario.
“I am delighted to join the board and have the opportunity to work with
the ACADIA team again,” said Bill Wells. “I look forward to being a part
of ACADIA during this exciting stage as we work to develop and
commercialize promising new drugs like pimavanserin that offer the
potential to improve the lives of patients suffering from neurological
and psychiatric disorders.”
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company utilizing innovative technology to
fuel drug discovery and clinical development of novel treatments for
central nervous system disorders. ACADIA has four product candidates in
clinical development including pimavanserin, which is in Phase III
development as a potential first-in-class treatment for Parkinson’s
disease psychosis. ACADIA also has a product candidate in Phase II
development for chronic pain and a product candidate in Phase I
development for glaucoma, both in collaboration with Allergan, Inc., and
AM-831 in Phase I development for schizophrenia in collaboration with
Meiji Seika Pharma Co., Ltd. All of the product candidates in ACADIA’s
pipeline emanate from discoveries made using its proprietary drug
discovery platform. ACADIA maintains a website at www.acadia-pharm.com
to which ACADIA regularly posts copies of its press releases as well as
additional information and through which interested parties can
subscribe to receive email alerts.
Forward-Looking Statements
Statements 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 potential benefits to ACADIA
from this addition to its board, and to the potential benefits of or
future commercial success of any product candidate in ACADIA’s pipeline.
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 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, 2010 as well as other 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.
Source: ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc.
Uli Hacksell, Ph.D., Chief
Executive Officer
(858) 558-2871