DUBLIN--(BUSINESS WIRE)--Alkermes plc (NASDAQ: ALKS), a global biopharmaceutical company developing medicines for the treatment of central nervous system (CNS) diseases, such as schizophrenia, major depressive disorder and multiple sclerosis, today announced a new competitive grant program. ALKERMESTM Inspiration Grants are designed to fund high-impact programs that can be replicable through the ecosystem for people affected by mental health and substance use disorders. The application period is now open and will run until Oct. 7, 2016.
“Medications are only one component of comprehensive care for the millions of people affected by mental health and substance use disorders,” said Richard Pops, Chief Executive Officer of Alkermes. “With our patient-centric approach at the core of everything we do, we created ALKERMES Inspiration Grants to fund innovative programs that provide critical wraparound support services and have a meaningful and substantive impact on individuals, families and communities.”
Alkermes will award up to $1 million in grants for the development or expansion of programs to support mental health and addiction communities in two key areas: improving or enhancing systems of care and/or ensuring the perspective of people affected by mental illness or addiction is considered and reflected in the development of medicines and delivery of care programs. Eligible non-profit organizations may submit applications for grants of up to $25,000 (Emergence Grant) or up to $100,000 (Innovation Grant). Multiple submissions are permitted.
Submissions will be evaluated based on a set of standard criteria and selected by Alkermes in partnership with an external panel from the community, including a patient advocate, a representative from the criminal justice system, a person in addiction recovery and a caregiver for someone living with mental illness.
“There is a palpable, sometimes debilitating, prejudice associated with addiction and mental health issues, even for those in recovery,” said Michael Miller, National Chapter Coordinator for Young People in Recovery and member of the review committee for ALKERMES Inspiration Grants. “Organizations that truly listen to and learn from those affected by the diseases they support are critical to the development of better, more effective medicines and care programs. I am eager to see what innovative ideas the community brings to the table. It’s truly inspiring.”
Only eligible U.S. 501(c)(3) non-profit organizations may apply. These include, but are not limited to, patient organizations and professional societies. The application process opened today and closes on Oct. 7, 2016. Grants will be awarded to the chosen organizations in November 2016, and funding will be distributed at the end of the calendar year.
For more information on ALKERMES Inspiration Grants, including the application, submission instructions and evaluation criteria, visit www.alkermes.com/inspirationgrants.
Alkermes plc is a fully integrated, global biopharmaceutical company developing innovative medicines for the treatment of central nervous system (CNS) diseases. The company has a diversified commercial product portfolio and a substantial clinical pipeline of product candidates for chronic diseases that include schizophrenia, depression, addiction and multiple sclerosis. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and a manufacturing facility in Wilmington, Ohio. For more information, please visit Alkermes’ website at www.alkermes.com.
Note Regarding Forward-Looking Statements
Certain statements set forth in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The company cautions that forward-looking statements are inherently uncertain. Although the company believes that such statements are based on reasonable assumptions within the bounds of its knowledge of its business and operations, the forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others, those risks described in the Alkermes plc Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2015 and in other subsequent filings made by the company with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. The information contained in this press release is provided by the company as of the date hereof, and, except as required by law, the company disclaims any intention or responsibility for updating or revising any forward-looking information contained in this press release.