Acadia Pharmaceuticals Appoints Kevin R. Oliver, Ph.D., as Senior Vice President, Chief Business Officer

SAN DIEGO--(BUSINESS WIRE)--Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) announced today the appointment of Dr. Kevin R. Oliver as Senior Vice President, Chief Business Officer, effective July 10, 2023. Dr. Oliver will oversee all business development functions and will serve as a member of the company’s Executive Management Committee, reporting to Steve Davis, President and Chief Executive Officer of Acadia.

“We are pleased to announce Kevin’s appointment to lead our business development and partnering activities,” said Steve Davis, Acadia’s President and Chief Executive Officer. “Our recent successful launch of DAYBUE^™ (trofinetide), the first and only drug approved for the treatment of Rett syndrome, together with the continued success of NUPLAZID^® (pimavanserin), the first and only drug approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis, positions us to build on our first-to-market expertise as we further expand our franchises in rare disease and neuropsychiatry.”

Dr. Oliver brings more than three decades of biopharmaceutical research and development and business development experience to Acadia. Before joining Acadia, Dr. Oliver served as SVP, Head of Global Business Development & Licensing and Alliance Management, as well as Chief Operations Officer, U.S. and Europe at Simcere Pharmaceutical Group. Prior to Simcere, Dr. Oliver held various key positions at Merck, where he served for over 20 years in research and development and business development leadership roles, and at Alcon as Head of Business Development, Global External Alliances.

“I am excited to join Acadia at such a pivotal time as we execute on our company’s strategy to grow our portfolio of central nervous system assets,” said Dr. Oliver. “The recent success of DAYBUE, originally partnered for North America in 2018, together with the recent expansion of this partnership to acquire global rights, underscores Acadia’s commitment to being the partner of choice in breakthrough therapies to treat central nervous system disorders.”

Dr. Oliver obtained his bachelor's degree in Immunology from King's College London and holds a Ph.D. in Pathology from the University of Cambridge.

About NUPLAZID^® (pimavanserin)

Pimavanserin is a selective serotonin inverse agonist and antagonist preferentially targeting 5-HT_2A receptors. These receptors are thought to play an important role in neuropsychiatric disorders. In vitro, pimavanserin demonstrated no appreciable binding affinity for dopamine (including D2), histamine, muscarinic, or adrenergic receptors. Pimavanserin was approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis by the U.S. Food and Drug Administration in April 2016 under the trade name NUPLAZID. In addition, Acadia is developing pimavanserin as a potential treatment for the negative symptoms of schizophrenia.

About DAYBUE^™ (trofinetide)

Trofinetide is a synthetic version of a naturally occurring molecule known as the tripeptide glycine-proline-glutamate (GPE). The mechanism by which trofinetide exerts therapeutic effects in patients with Rett syndrome is unknown. In animal studies, trofinetide has been shown to increase branching of dendrites and synaptic plasticity signals. ^1,2 More information can be found at DAYBUE.com.

About Acadia Pharmaceuticals

Acadia is advancing breakthroughs in neuroscience to elevate life. For 30 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapies for hallucinations and delusions associated with Parkinson’s disease psychosis and for the treatment of Rett syndrome. Our clinical-stage development efforts are focused on treating the negative symptoms of schizophrenia, Prader-Willi syndrome, Alzheimer’s disease psychosis and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia.com and follow us on LinkedIn and Twitter.

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 regarding the timing of future events. 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 development, approval and commercialization. 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, 2022, 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.

References

¹ Tropea D, Giacometti E, Wilson NR, et al. Partial reversal of Rett Syndrome-like symptoms in MeCP2 mutant mice. Proc Natl Acad Sci USA. 2009;106(6):2029-2034.
² Acadia Pharmaceuticals Inc., Data on file. Study Report 2566-026. 2010.