ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders, today announced the election of Stephen R. Biggar, M.D., Ph.D., to its board of directors. Dr. Biggar will fill a vacancy on ACADIA’s board and serve as a Class II director. The terms of the Class II directors will expire at the annual meeting of stockholders in 2015.
“This is a particularly exciting time to join the ACADIA board following the highly successful results from the pivotal Phase III Parkinson’s disease psychosis trial with pimavanserin,” said Dr. Biggar. “I share in ACADIA’s enthusiasm and belief that pimavanserin has the potential to transform the treatment landscape for patients suffering from this serious disorder and may also offer an improved therapy option for a broader range of neuropsychiatric disorders. Following the recent financing, which raised $86 million, ACADIA has a solid foundation for building the full potential of pimavanserin. I look forward to being a part of the ACADIA team as we work to develop and commercialize pimavanserin and other potential new drugs that may improve the lives of patients.”
Dr. Biggar serves as a Partner at Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies. From April 2002 to October 2006, he served as a Principal with Baker Brothers Investments which he had joined as an Associate in April 2000. Prior to joining Baker Brothers, Dr. Biggar received an M.D. and a Ph.D. in Immunology from Stanford University and received a B.S. in Genetics from the University of Rochester. Dr. Biggar also serves as a director for Synageva BioPharma Corp., a publicly traded biotechnology company.
“We are delighted that Steve has joined ACADIA’s board,” said Uli Hacksell, Ph.D., ACADIA’s Chief Executive Officer. “His extensive experience as an investor in a wide range of biotechnology companies together with his medical and scientific training will provide our board with a unique perspective and enhance our collective experience.”
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders. ACADIA has a pipeline of product candidates led by pimavanserin, which is in Phase III development as a potential first-in-class treatment for Parkinson's disease psychosis. ACADIA also has clinical-stage programs for chronic pain and glaucoma in collaboration with Allergan, Inc. and two advanced preclinical programs directed at Parkinson’s disease and other neurological disorders. All product candidates are small molecules that emanate from discoveries made at ACADIA. 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.
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 progress and timing of ACADIA’s drug discovery and development programs, either alone or with a partner, and the clinical benefits to be derived from ACADIA’s product candidates, in each case including pimavanserin. In particular, forward-looking statements include statements regarding the impact of ACADIA’s recent financing and the potential for pimavanserin to transform the treatment landscape for Parkinson’s disease psychosis and to be an improved therapy for a broader range of neuropsychiatric disorders. 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 collaborations with others, 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, 2011 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.