Adamas Pharmaceuticals Appoints Neil McFarlane as Chief Executive Officer
September 13 2019 - 7:30AM
Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS), a fully-integrated
pharmaceutical company pioneering time-dependent medicines for
central nervous system disorders, today announced that Neil
McFarlane has been named Chief Executive Officer and appointed to
the Adamas Board of Directors, effective September 16th, 2019.
Neil succeeds Gregory Went, Ph.D. who has been Chairman and
CEO of Adamas since the company’s inception. Greg will step
down from the Board of Directors and transition to a strategic
advisory role.
Newly appointed Chairman of the Board of Adamas,
David Mahoney, said: “Neil’s appointment as Chief Executive Officer
and to the Board is the culmination of a thoughtful succession and
transition process undertaken by the Board of Directors. Neil
has a demonstrated track record of accomplishment and brings a
broad skill-set incorporating operational, strategic and business
development leadership.”
Neil joins Adamas with over 20 years of global
biopharmaceutical and life sciences experience delivering value to
patients suffering from serious illnesses. He has delivered
growth in both specialty and orphan products in the United States,
Europe, Asia and Latin America. Neil most recently served as
Chief Operating Officer of Retrophin, Inc. with principal
responsibility for global commercial operations, corporate
development, patient services, and program and alliance
management. Previously he held executive and general
management positions at leading biopharmaceutical companies,
including UCB, Genzyme, and Sangstat Medical Corporation.
Neil served as an officer and enlisted soldier in the United States
Army Reserves. He holds a B.S. and M.S. in Nursing from the
University of Florida.
“I am excited to join Adamas as it navigates a
critical stage in the commercialization of GOCOVRI® and prepares
for key clinical data in the Phase 3 INROADS trial in Multiple
Sclerosis. The company’s focus on delivering significant
clinical value to patients with debilitating neurological
conditions fits with the passion that has driven me throughout my
career in the pharmaceutical industry and is the foundation for
long-term success of the business. I see an opportunity to
take Adamas’ novel time-dependent approach to a wider group of
patients, and I look forward to joining a talented team of
professionals who share my belief in the potential of Adamas.” said
Neil McFarlane.
David Mahoney added, “The Adamas Board of
Directors extends its profound gratitude to Greg for his
contributions as founder and his service as Chairman and CEO.
Under his leadership Adamas grew into a commercial stage public
company with an innovative discovery and development platform,
which has delivered two approved products. We are grateful for
Greg’s commitment to patients and his ongoing support of our
company. Combined with other recent changes, we believe
Adamas is well positioned to achieve its mission.”
“After leading Adamas for nearly 15 years, now
is the right time for this transition,” said Greg Went. “I am
thrilled to hand the reins over to Neil. He has the
background and skills to lead the company as we enter the next
phase of growth of GOCOVRI and our pipeline. I am excited
about Adamas’ future and plan to work with the Board, Neil and the
entire leadership team to ensure a smooth transition.”
About Adamas Pharmaceuticals,
Inc.
Adamas’ goal is to create and commercialize a
new generation of medicines intended to lessen the burden of
chronic neurologic diseases on patients, caregivers and society
using its deep understanding of time-dependent biology. For more
information about Adamas and its unique approach to developing
medicines based on time-dependent biology, please visit
www.adamaspharma.com.
About GOCOVRI
GOCOVRI (amantadine) extended-release capsules
is the first and only FDA-approved medicine indicated for the
treatment of dyskinesia in patients with Parkinson’s disease
receiving levodopa-based therapy, with or without concomitant
dopaminergic medications. It is also the only medicine clinically
proven to reduce both dyskinesia and OFF.
GOCOVRI is thought to work by reducing the
amount of glutamate hyperactivity in a region of the brain that
controls movement, in patients experiencing dyskinesia and OFF. The
NMDA receptor is activated by glutamate and causes post-synaptic
nerve signaling in this area of the brain, which is modulated by
dopamine. Levodopa therapy replaces dopamine lost in Parkinson’s
disease but may result in large fluctuations in synaptic levels of
dopamine during waking hours, further exacerbating glutamate
hyperactivity. GOCOVRI, developed by Adamas, is novel in that it
selectively blocks the NMDA receptor in a time-dependent manner.
Taken at bedtime, GOCOVRI provides an initial lag and a slow rise
in amantadine concentration during the night and a high
concentration from the morning and throughout the waking day.
Additionally, the adjunctive use of GOCOVRI does not require dose
changes to dopaminergic therapies. The most commonly observed
adverse reactions with GOCOVRI were hallucinations, dizziness, dry
mouth, peripheral edema, constipation, fall and orthostatic
hypotension.
For more information about GOCOVRI, please see
the U.S. Prescribing Information at www.GOCOVRI.com.
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 Adamas’ expectations
regarding the benefits to patients of GOCOVRI. Such statements are
subject to risks and uncertainties, and 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 GOCOVRI, and the regulatory and competitive environment and
Adamas’ business in general, see Adamas’ Quarterly Report on Form
10-Q filed with the Securities and Exchange Commission on August 8,
2019, particularly under the caption “Risk Factors.” 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:
Investors: |
Media: |
Peter Vozzo |
Sarah Mathieson |
Westwicke |
Vice President of Corporate Communications |
443-213-0505 |
510-450-3528 |
peter.vozzo@westwicke.com |
smathieson@adamaspharma.com |
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