SAN DIEGO, Jan. 13, 2020 /PRNewswire/ -- Arena
Pharmaceuticals, Inc. (Nasdaq: ARNA) announced today the
appointment of Joan Schmidt as
Executive Vice President, General Counsel and Secretary. Ms.
Schmidt will join Arena formally in March
2020 and report to Amit D.
Munshi, Arena's President and Chief Executive Officer.
Steven Spector, Arena's Executive
Vice President, General Counsel and Secretary, will be retiring
from the Company after nearly two decades of service. To support
the transition, Mr. Spector will remain with Arena in his current
role until early March, and then will serve as a consultant
supporting ongoing projects for the Company.
"We are excited to have Joan join the Arena team," said Mr.
Munshi. "Joan has an extensive and proven track record leading
later-stage and commercial-stage corporate legal and governance
activities for companies with a global footprint. Her expertise and
leadership will be critical as we continue to build a bold,
vibrant, sustainable company to support the potential delivery of
multiple important medicines."
Ms. Schmidt joins Arena after serving as Executive Vice
President, Chief Legal Officer and Secretary at DBV Technologies,
Inc., a clinical-stage biopharmaceuticals company, and Executive
Vice President and US General Counsel at Biotronik, Inc., a global
commercial stage medical device company.
Ms. Schmidt's experience includes twenty years of increasing
responsibility at Novo Nordisk both in the US and in Europe, most recently as US Corporate Vice
President, Legal Affairs. During her time at Novo Nordisk, Ms.
Schmidt's responsibilities included leadership roles in compliance,
risk management, licensing, litigation, advertising, pricing and
promotion. Ms. Schmidt earned a J.D. from Pace University and a B.A. from the University of Connecticut.
Mr. Munshi added, "On behalf of myself and the Arena Board of
Directors, we would like to express our deepest appreciation to
Steven for his leadership during his many years with Arena. During
Steven's tenure as General Counsel, he has played a critical role
in the Company's success. Importantly, through difficult times,
Steven's stewardship was central to the transition and evolution we
underwent three years ago. We thank Steven for his almost two
decades of service and uncompromising work ethic."
About Arena Pharmaceuticals
Arena Pharmaceuticals is
uniquely positioned to develop best-in-disease medicines with
optimized efficacy and safety for patients globally. Our drive to
deliver a robust pipeline of novel, transformational medicines is
grounded in two decades of world class G-protein-coupled receptor
(GPCR) discovery research.
It is the breadth and depth of the portfolio, the prioritization
of drug development to meet unmet patient needs, the strong
financial health and the growing, bold-thinking world-class team
that gives Arena the ingredients and passion to build a
sustainable, vibrant next generation pharmaceutical company.
Forward-Looking Statements
Certain statements in this
press release are forward-looking statements that involve a number
of risks and uncertainties. These forward-looking statements may be
identified by introductory words such as "plan," "development,"
"targets," "focused on," "will," "preparing," "future," "focus on,"
"poised to," "opportunity" "uniquely positioned to," "drive to,"
"potential", or words of similar meaning, or by the fact that they
do not relate strictly to historical or current facts. Such
forward-looking statements include, without limitation, statements
about the potential delivery of multiple important medicines. For
such statements, Arena claims the protection of the Private
Securities Litigation Reform Act of 1995. Actual events or results
may differ materially from Arena's expectations. Factors that could
cause actual results to differ materially from the forward-looking
statements include, without limitation, the following: the timing
and outcome of research, development and regulatory review is
uncertain; clinical trials and other studies may not proceed at the
time or in the manner expected or at all; enrolling subjects in our
ongoing and intended clinical trials is competitive and
challenging; results of clinical trials and other studies are
subject to different interpretations and may not be predictive of
future results; nonclinical and clinical data are voluminous and
detailed, and regulatory agencies may interpret or weigh the
importance of data differently and reach different conclusions than
Arena or others, request additional information, have additional
recommendations or change their guidance or requirements before or
after approval; we expect to need additional funds to advance all
of our programs, and you and others may not agree with the manner
we allocate our resources; our drug candidates may not advance in
development or be approved for marketing; risks related to
unexpected or unfavorable new data; risks related to relying on
partners and other third parties; risks related to developing and
commercializing drugs; Arena's and third parties' intellectual
property rights; and satisfactory resolution of litigation or other
disagreements with others. Additional factors that could cause
actual results to differ materially from those stated or implied by
Arena's forward-looking statements are disclosed in Arena's filings
with the Securities and Exchange Commission. These forward-looking
statements represent Arena's judgment as of the time of this
release. Arena disclaims any intent or obligation to update these
forward-looking statements, other than as may be required under
applicable law.
Corporate
Contact:
Kevin R. Lind
Arena Pharmaceuticals, Inc.
Executive Vice President and
Chief Financial Officer
klind@arenapharm.com
858.210.3636
Arena Media Contact:
IR@arenapharm.com
858-453-7200
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SOURCE Arena Pharmaceuticals, Inc.