EMERYVILLE, Calif, June 28, 2017 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS) today announced the appointment of Alfred G. Merriweather as Chief Financial Officer, reporting to Gregory T. Went, Ph.D., Chairman and Chief Executive Officer, and the retirement of William J. Dawson, its former Chief Financial Officer. Mr. Merriweather will be responsible for leading the company's financial and administration organization including its established teams in finance, accounting, SEC reporting, treasury, investor relations and human resources.
"I am sincerely grateful to Bill Dawson for his tremendous contribution to Adamas as CFO over the last three years, during which time he built a strong and capable finance and accounting organization as well as directly participated in raising over $170 million in capital to fund the company's growth. I congratulate him on his retirement," said Dr. Went. "Also, at this important time of transition for the company from a development organization to a full commercial entity, I am delighted to welcome Alf Merriweather to Adamas with his extensive commercial and financial experience."
Mr. Merriweather joins Adamas as a New Drug Application supporting ADS-5102 (amantadine) extended-release capsules for the treatment of levodopa-induced dyskinesia in people with
Parkinson's disease is under review by the U.S. Food and Drug Administration (FDA) with a Prescription Drug User Fee Act (PDUFA) action date of August 24, 2017. If approved, ADS-5102 will be the first and only FDA-approved medicine indicated for the treatment of levodopa-induced dyskinesia.
Mr. Merriweather has spent over 25 years in executive leadership and senior financial positions with public and private companies in the life sciences industry, including Raindance Technologies, Inc. (acquired by Bio-Rad Laboratories, Inc.), Verinata Health, Inc. (acquired by Illumina, Inc.), Celera
Corporation, Monogram Biosciences, Inc., and Laserscope. Mr. Merriweather received a Bachelor's degree from the University of Cambridge in the United Kingdom.
"I am excited to join the Adamas team as the company transforms itself into a full commercial organization, with the potential approval and introduction of ADS-5102 in 2017," said Mr. Merriweather. "I have been impressed with Adamas' proven discovery platform. I look forward to contributing my skills and experience to Adamas and its mission to improve the quality of life for patients with chronic neurologic conditions."
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 for chronic neurologic disorders based on an understanding of the time-dependent biologic processes responsible for disease activity and drug response. The company's most advanced product candidate, ADS-5102, is a high-dose amantadine, taken once-daily at bedtime, in development for the treatment of levodopa-induced dyskinesia in people with Parkinson's disease and for the treatment of walking impairment in people with multiple sclerosis. A New Drug Application supporting ADS-5102 for the treatment of levodopa-induced dyskinesia 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 further development of ADS-5102. 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.
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 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' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 9, 2017. 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.
Director, Corporate Communications & Investor Relations
Adamas Pharmaceuticals, Inc.
Source: Adamas Pharmaceuticals, Inc.
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