SAN DIEGO, Jan. 7, 2018 /PRNewswire/ -- Neurocrine
Biosciences, Inc. (NASDAQ: NBIX), a biotechnology company focused
on neurological and endocrine related disorders, today announced
that Christopher O'Brien, M.D.,
Chief Medical Officer, has notified the Company he plans to retire
in February 2018, after a transition
period with his successor. Dr. O'Brien joined Neurocrine in 2005,
and has led the clinical development and medical affairs activities
for more than 12 years. Dr. O'Brien will remain as an exclusive
consultant for Neurocrine.
"On behalf of the board, shareholders and our employees, I want
to thank Chris for his tremendous contributions as Chief Medical
Officer of Neurocrine," said Kevin Gorman, Ph.D., Chief
Executive Officer of Neurocrine Biosciences. "With his considerable
expertise and leadership, we successfully developed and obtained
FDA approval of INGREZZA capsules for the treatment of adults with
tardive dyskinesia and advanced our clinical development programs
for Tourette syndrome, Parkinson's disease, endometriosis and
congenital adrenal hyperplasia. I am very pleased that Chris will
continue to be a part of the Neurocrine team for the foreseeable
future."
Eiry W. Roberts, M.D., will join the company as Chief Medical
Officer, effective January 8,
2018.
"We are very pleased to welcome Eiry to Neurocrine as
she brings extensive senior leadership and pharmaceutical
management experience to the team," Dr. Gorman said. "Eiry's strong background in
implementing strategic clinical development programs and navigating
the regulatory approvals process across phases of drug development
from research to commercialization in multiple therapeutic areas,
including neuroscience, will be valuable as we execute on our
commercialization and clinical plans and advance our pipeline in
support of our commitment to relieve patient suffering and enhance
lives."
Dr. Roberts has over 25 years of research and development
experience in the pharmaceutical industry across all phases of drug
development from research through commercialization in multiple
therapeutic areas, including neuroscience, inflammation, oncology
and metabolic diseases. She joins Neurocrine from Eli Lilly and
Company where she held various positions during her tenure,
including Vice President, Clinical Pharmacology and Vice President
of R&D, BioMedicines Business Unit.
Dr. Roberts was the Chair of the Medical Review Committee, where
she was responsible for review and approval of all the integrated
clinical plans for molecules in the Lilly portfolio. She was also a
member of Lilly's Corporate Portfolio Management Committee and
Lilly Ventures Steering Committee. Dr. Roberts was accountable for
early clinical development programs across all therapeutic areas
within Lilly, as well as registration for new chemical entities and
biproducts in Phase III development. During her time at Lilly, Dr.
Roberts established a new therapeutic area, which resulted in the
development of five potential novel medicines from Phase I through
to approval, with two of them successfully receiving regulatory
approval. Dr. Roberts also has extensive leadership and business
development experience, including the management of strategic
alliances, business partnerships and venture capital
collaborations.
Dr. Roberts is a physician who trained in pharmacology and
medicine in the UK, qualifying from the University of London in 1987. Her post-graduate clinical
training was in clinical pharmacology and cardiology at St.
Bartholomew's Hospital and the Royal London Hospital.
Neurocrine also announced the grant of an inducement award to
Dr. Roberts pursuant to Rule 5635(c)(4) of the NASDAQ Listing
Rules. In connection with her employment by Neurocrine, Dr. Roberts
will be granted an inducement award consisting of a stock option to
purchase 70,000 shares of Neurocrine common stock. The stock option
will vest over a period of four years, with 25% vesting on the
first anniversary of its grant date and the balance vesting each
month over the remaining three years. Dr. Roberts also received
20,000 restricted stock units which vest in equal increments over
four years, with 25% vesting each year. These awards are subject to
the terms and conditions of Neurocrine's Inducement Plan, and will
be effective on January 8, 2018. The
stock option grant will have an exercise price equal to the closing
price of Neurocrine's common stock on the NASDAQ Global Select
Market on that date. These awards were granted as an inducement
material to Dr. Roberts' employment pursuant to Rule 5635(c)(4) of
the NASDAQ Listing Rules.
About Neurocrine Biosciences, Inc.
Neurocrine
Biosciences is a San Diego based biotechnology
company focused on neurologic, psychiatric and endocrine related
disorders. The Company markets INGREZZA® (valbenazine)
capsules in the United States for the treatment of adults
with tardive dyskinesia. INGREZZA is a novel, selective
vesicular monoamine transporter 2 (VMAT2) inhibitor, and is the
first FDA approved product indicated for the treatment of adults
with tardive dyskinesia. The Company's three late-stage
clinical programs are: elagolix, a gonadotropin-releasing hormone
antagonist for women's health that is partnered with AbbVie
Inc.; opicapone, a novel, once-daily, peripherally-acting,
highly-selective catechol-o-methyltransferase inhibitor under
investigation as adjunct therapy to levodopa in Parkinson's
patients; and INGREZZA, a novel, once-daily, selective VMAT2
inhibitor under investigation for the treatment of Tourette
syndrome.
Neurocrine Biosciences, Inc. news releases are available through
the Company's website via the internet at
http://www.neurocrine.com.
Forward-Looking Statements
In addition to
historical facts, this press release contains forward-looking
statements that involve a number of risks and uncertainties. These
statements include, but are not limited to, statements related to
our ability to execute on the Company's commercialization and
clinical plans, and the Company's ability to advance its product
candidate pipeline. Among the factors that could cause actual
results to differ materially from those indicated in the
forward-looking statements are: risks and uncertainties associated
with Neurocrine's business and finances in general as well as risks
and uncertainties associated with the commercialization of
INGREZZA; risks and uncertainties relating to competitive products
and technological changes that may limit demand for INGREZZA; risks
associated with the Company's dependence on third parties for
development and manufacturing activities related to INGREZZA and
the ability of the Company to manage these third parties; risks
that the FDA or other regulatory authorities may make adverse
decisions regarding INGREZZA; risks that INGREZZA clinical trials
may not be predictive of real-world results or of results in
subsequent clinical trials; risks that INGREZZA may be alleged to
infringe upon the proprietary rights of third parties, or
have unintended side effects, adverse reactions or incidents
of misuse; and other risks described in the Company's periodic
reports filed with the Securities and Exchange Commission,
including without limitation the Company's Quarterly Report on Form
10-Q for the quarter ended September 30,
2017. The Company disclaims any obligation to update the
statements contained in this press release after the date
hereof.
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SOURCE Neurocrine Biosciences, Inc.