Acadia Pharmaceuticals (ACAD) is a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders.
Acadia’s lead product candidate, pimavanserin, is in Phase III development . Pimavanserin is projected to be a potential first-in-class treatment for Parkinson’s disease psychosis.
On January 18, 2013, Acadia’s Board of Directors elected Stephen R. Biggar, M.D., Ph.D., as a director to fill an existing vacancy.
Dr. Biggar received ACAD’s standard compensation package for an outside director, including a stock option to purchase up to 15,000 shares of company’s common stock under its 2010 Equity Incentive Plan. Dr. Biggar was not appointed to any committees at the time of his election.
Dr. Biggar serves as a partner at Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies, and which participated in our December 2012 financing as an investor through the following funds : 667, L.P., Baker Brothers Life Sciences, L.P. and 14159, L.P. The Funds purchased an aggregate of 4,466,140 shares of ACAD common stock and 500,000 warrants to purchase common stock for an aggregate of approximately $22.0 million in the financing.