Acadia Appoints Steve Davis as CEO

Published: Sep 03, 2015

SAN DIEGO--(BUSINESS WIRE)--

ACADIA Pharmaceuticals Inc. (ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders, today announced that its Board of Directors has appointed Steve Davis as President and Chief Executive Officer. Mr. Davis has been serving as ACADIA’s Interim Chief Executive Officer since March 2015. Mr. Davis has also been appointed to the ACADIA Board of Directors.

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“We are delighted that Steve is our Chief Executive Officer,” said Leslie L. Iversen, Ph.D., ACADIA’s Chairman of the Board. “He is an accomplished leader and since joining ACADIA, Steve has done a tremendous job of aligning ACADIA’s operations with our short-term and long-term goals, continuing the build-out of our capabilities, and positioning the Company for strong growth. I have great confidence in Steve leading ACADIA through our next stage of growth as we bring innovative treatments such as NUPLAZID to CNS disease states with high unmet medical needs.”

“With Breakthrough Therapy designation and our submission of the New Drug Application for NUPLAZID for Parkinson’s disease psychosis, we have an opportunity to transform the treatment of psychosis and significantly improve the lives of these patients,” said Steve Davis, ACADIA’s Chief Executive Officer. “We are building on our momentum as we prepare for the expected launch of NUPLAZID in the United States and continue our efforts to explore the full potential of NUPLAZID to treat patients suffering from additional CNS disorders.”

Mr. Davis brings over 20 years of executive-level experience in the pharmaceutical industry and more than 20 years of experience on the boards of directors of publicly held biopharmaceutical companies. He joined ACADIA in July 2014 as Executive Vice President, Chief Financial Officer and Chief Business Officer and was appointed Interim Chief Executive Officer in March 2015. Previously, Mr. Davis served as Executive Vice President and Chief Operating Officer at Heron Therapeutics, Inc., Executive Vice President and Chief Operating Officer at Ardea Biosciences, Inc., and in numerous executive roles at Neurogen Corporation, including Chief Executive Officer. Mr. Davis currently serves on the Board of Directors of Bellicum Pharmaceuticals, Inc. He also recently served on the boards of directors of Synageva BioPharma Corp., Heron Therapeutics, and Furiex Pharmaceuticals, Inc.

Early in his career, Mr. Davis practiced as a Certified Public Accountant with a major accounting firm and as a corporate and securities attorney with a Wall Street law firm. Mr. Davis received his Bachelor of Science degree in Accounting from Southern Nazarene University and a J.D. from Vanderbilt University.

Separately, ACADIA issued a news release today announcing that it has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (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 and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders. ACADIA has a pipeline of product candidates led by NUPLAZID™ (pimavanserin), for which we have submitted a New Drug Application in Parkinson’s disease psychosis to the FDA and which has the potential to be the first drug approved in the United States for this condition. Pimavanserin is also in Phase II development for Alzheimer’s disease psychosis and has successfully completed a Phase II trial in schizophrenia. ACADIA also has clinical-stage programs for chronic pain and glaucoma in collaboration with Allergan, Inc. All product candidates are small molecules that emanate from internal discoveries. 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 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 ACADIA’s positioning for strong growth; ACADIA’s ability to bring innovative treatments such as NUPLAZID to CNS disease states with high unmet medical needs; the potential for NUPLAZID (pimavanserin) to be the first drug approved in the United States for Parkinson’s disease psychosis (PDP), if approved at all, and the expected launch of NUPLAZID for PDP; ACADIA’s opportunity to transform the treatment of psychosis and significantly improve the lives of patients with PDP with NUPLAZID; the potential of NUPLAZID to treat patients 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 expected timing of clinical trials. 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 in 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, 2014 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.

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Contact:
Investor Contacts:
ACADIA Pharmaceuticals Inc.
Steve Davis, Chief Executive Officer
Lisa Barthelemy, Director of Investor Relations
(858) 558-2871
or
Media Contact:
Russo Partners
David Schull
(212) 845-4271 or (858) 717-2310
david.schull@russopartnersllc.com
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