ARDSLEY, N.Y.--(BUSINESS WIRE)--Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that Rick Batycky, Ph.D., Chief Technology Officer, will be leaving Acorda as of August 20, 2018 to take a position as the CEO of a private, venture-backed biotechnology company. David Lawrence, Acorda’s Chief of Business Operations, will assume responsibility for the company’s Chelsea, MA manufacturing facility, which produces INBRIJA™ (levodopa inhalation powder), as well as for the external manufacturing of AMPYRA® (dalfampridine). Burkhard Blank, M.D., Acorda’s Chief Medical Officer, will assume responsibility for Acorda’s Pharmaceutical Development and Technical Operations teams.
“After twenty years of working to take the ARCUS technology out of the laboratory into the clinic, I am excited that INBRIJA is on the threshold of potential FDA approval and availability to people who are challenged by OFF periods in Parkinson’s disease,” said Dr. Batycky. “I feel confident in taking this next step in my career, knowing that Acorda has a superb team to maximize the value of INBRIJA, as well as the ARCUS technology.”
“We thank Rick for his contributions to Acorda and for the vision and commitment that led to the development of INBRIJA and the ARCUS platform. We wish him great success in his new CEO role,” said Ron Cohen, M.D., Acorda’s President and CEO. “Rick leaves a highly skilled management team in place at our Boston facilities, now complemented by Dave and Burkhard, each of whom is a seasoned leader with decades of experience. As we near the PDUFA date for INBRIJA, the entire Acorda team is looking forward to the opportunity to bring this important new medicine to the Parkinson’s community.”
About INBRIJA™ (levodopa inhalation powder) and ARCUS®
INBRIJA
is a self-administered, orally inhaled levodopa (L-dopa) therapy in
development for the treatment of symptoms of OFF periods in people with
Parkinson’s disease taking a carbidopa/levodopa regimen.
INBRIJA utilizes Acorda’s investigational ARCUS® platform for inhaled therapeutics. INBRIJA was designed to deliver a precise dose of a dry powder formulation of L-dopa through the lung. Oral medication can be associated with variable onset of action, as the medicine is absorbed through the gastrointestinal (digestive) tract before reaching the brain. Inhaled treatments enter the body through the lungs and reach the brain, bypassing the digestive system.
The proprietary name INBRIJA has been conditionally accepted by the U.S. Food and Drug Administration (FDA).
About Acorda Therapeutics
Founded in 1995, Acorda
Therapeutics is a biopharmaceutical company focused on developing
therapies that restore function and improve the lives of people with
neurological disorders. Acorda has a pipeline of novel neurological
therapies addressing a range of disorders, including Parkinson’s disease
and multiple sclerosis. Acorda markets two FDA-approved therapies,
including AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg.
Forward-Looking Statement
This press release includes
forward-looking statements. All statements, other than statements of
historical facts, regarding management's expectations, beliefs, goals,
plans or prospects should be considered forward-looking. These
statements are subject to risks and uncertainties that could cause
actual results to differ materially, including: the ability to realize
the benefits anticipated from acquisitions, among other reasons because
acquired development programs are generally subject to all the risks
inherent in the drug development process and our knowledge of the risks
specifically relevant to acquired programs generally improves over time;
we may need to raise additional funds to finance our operations and may
not be able to do so on acceptable terms; our ability to successfully
market and sell Ampyra (dalfampridine) Extended Release Tablets, 10 mg
in the U.S., which will likely be materially adversely affected by the
March 2017 court decision in our litigation against filers of
Abbreviated New Drug Applications to market generic versions of Ampyra
in the U.S.; the risk of unfavorable results from future studies of
Inbrija (levodopa inhalation powder) or from our other research and
development programs, or any other acquired or in-licensed programs; we
may not be able to complete development of, obtain regulatory approval
for, or successfully market Inbrija, or any other products under
development; risks associated with complex, regulated manufacturing
processes for pharmaceuticals, which could affect whether we have
sufficient commercial supply of Inbrija to meet market demand, if it
receives regulatory approval; third party payers (including governmental
agencies) may not reimburse for the use of Ampyra, Inbrija or our other
products at acceptable rates or at all and may impose restrictive prior
authorization requirements that limit or block prescriptions; the
occurrence of adverse safety events with our products; the outcome (by
judgment or settlement) and costs of legal, administrative or regulatory
proceedings, investigations or inspections, including, without
limitation, collective, representative or class action litigation;
competition; failure to protect our intellectual property, to defend
against the intellectual property claims of others or to obtain third
party intellectual property licenses needed for the commercialization of
our products; and failure to comply with regulatory requirements could
result in adverse action by regulatory agencies.
These and other risks are described in greater detail in our filings with the Securities and Exchange Commission. We may not actually achieve the goals or plans described in our forward-looking statements, and investors should not place undue reliance on these statements. Forward-looking statements made in this press release are made only as of the date hereof, and we disclaim any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
