Adamas Appoints Richard A. King as Chief Operating Officer to Lead Commercialization of ADS-5102
April 27 2017 - 5:51PM
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
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