-- Biotech and pharmaceutical industry veteran brings deep commercial, operating, and business experience --
EMERYVILLE, Calif., April 27, 2017 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS) today announced the appointment of Richard A. King as Chief Operating Officer, reporting to Gregory T. Went, Ph.D., Chairman and Chief Executive Officer. Mr. King will be responsible for leading the Company’s commercial organization and its established teams in marketing, market access, manufacturing, and distribution, as well as overseeing the company’s planning and information technology operations.
Mr. King joins Adamas as the Company prepares for the potential approval and launch of ADS-5102 (amantadine) extended-release capsules for the treatment of levodopa-induced dyskinesia (LID) in people with Parkinson’s disease. The new drug application (NDA) supporting ADS-5102 is currently under FDA review with a PDUFA date of August 24, 2017. If approved, ADS-5102 will be the first and only approved medicine indicated for the treatment of LID.
“We are delighted that Richard is joining Adamas at this very exciting time as we focus on preparing to bring ADS-5102 to market in the second half of 2017,” said Dr. Went. “Richard is a proven leader who has an extensive track record of success in launching innovative products over his nearly 30 years in the biotech and pharmaceutical industry. His experience leading both corporate strategy and operations will be invaluable to Adamas.”
“I am excited to join the Adamas team as we move toward potential approval and commercialization of ADS-5012,” said Mr. King. “I am looking forward to working with this experienced executive team to strengthen the commercial organization and maximize the significant commercial potential of ADS-5102, as well as participating in the selection of additional product development opportunities. I am confident that the Company is well-positioned, and is taking the right steps to meet important unmet medical needs and create value for all Adamas stakeholders.”
Mr. King has held executive leadership roles at numerous companies in the life sciences industry throughout his career. Most recently, Mr. King was Chief Operating Officer at The Scripps Research Institute. He previously served as President and Chief Executive Officer of AcelRx Pharmaceuticals, Inc., a specialty pharmaceutical company developing new pain medications. Prior to AcelRx, he was President, Chief Operating Officer and General Manager of the biotechnology company Tercica, Inc. (later sold to the Ipsen Group), where he was instrumental in the commercial launch of Dysport® (abobotulinumtoxinA) and Increlex® (mecasermin [rDNA origin] injection). He also previously served as Executive Vice President of commercial operations at Kos Pharmaceuticals, Inc., where he oversaw the growth of Niaspan® (niacin extended-release) and the launch of Advicor® (niacin extended-release/lovastatin). He was Senior Vice President of commercial operations at Solvay and Vice President of commercial operations at Unimed, where he launched AndroGel® (testosterone gel). Earlier in his career, he held positions of increasing responsibility at SmithKline Beecham and Lederle Laboratories. Mr. King received a B.Sc. in chemical engineering from the University of Surrey in the U.K. and an M.B.A. from the Manchester Business School in the U.K.
About Adamas Pharmaceuticals, Inc.
Adamas develops new medicines to improve the daily lives of those affected by chronic neurologic disorders, including Parkinson’s disease, multiple sclerosis, epilepsy and Alzheimer’s disease. Adamas has pioneered a platform to develop medicines, called chrono-synchronous therapies, for chronic neurologic disorders based on an understanding of the time-dependent biologic processes responsible for disease activity and drug response to potentially achieve symptomatic relief without tolerability issues. The Company’s most advanced product candidate, ADS-5102, is in development for LID in people with Parkinson’s disease and walking impairment in people with multiple sclerosis. An NDA supporting ADS-5102 for the treatment of LID in people with Parkinson’s disease is under review by the FDA, with a PDUFA date of August 24, 2017. Adamas is exploring other indications for ADS-5102 for further development. Adamas is also investigating ADS-4101 for the treatment of partial onset seizures in patients with epilepsy. Additionally, Adamas’ licensed assets are currently marketed by Allergan under the brand names NAMENDA XR® and NAMZARIC®, and Adamas is eligible to receive royalties on sales of these medicines beginning in June 2018 and May 2020, respectively. For more information, please visit www.adamaspharma.com.
NAMENDA XR® and NAMZARIC® are trademarks of Merz Pharma GmbH & Co. KGaA.
Forward-looking Statements
Statements contained in this press release regarding matters that may occur in the future are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements contained in this press release regarding the potential approval and commercial launch of ADS-5102 for the treatment of levodopa-induced dyskinesia in people with Parkinson’s disease and the potential clinical benefits of ADS-5102. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. For a description of risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements, including risks relating to Adamas’ research, clinical, development and commercial activities relating to ADS-5102 and ADS-4101, the regulatory and competitive environment and Adamas’ business in general, see Adamas’ Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28, 2017, including under the caption “Risk Factors” in the Form 10-K. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Adamas undertakes no obligation to update any forward-looking statement in this press release.
Contact: Martin Forrest Vice President, Corporate Communications & Investor Relations Adamas Pharmaceuticals, Inc. Phone: 510-450-3528 Email: ir@adamaspharma.com
