Avadel Pharmaceuticals Appoints Dr. Douglas Williamson as Chief Medical Officer
14 2월 2022 - 9:00PM
Avadel Pharmaceuticals plc (Nasdaq: AVDL), a company focused on
transforming medicines to transform lives, today announced the
appointment of Douglas Williamson, MBChB, as Chief Medical Officer.
“Doug is an outstanding addition to the Avadel leadership team
given his extensive experience in the biopharmaceutical industry
leading R&D, clinical development and medical affairs teams in
the neuroscience field,” said Greg Divis, Chief Executive Officer
of Avadel. “His expertise in pre- and post-approval clinical
development, data generation and regulatory strategy will support
all aspects of FT218 as we look to bring this important treatment
to people living with narcolepsy. Furthermore, we look
forward to Doug’s invaluable insights as we continue to advance our
strategy for the future of Avadel beyond FT218.”
Dr. Williamson has more than 25 years of scientific, clinical
and medical experience primarily focused on neuroscience. He joins
Avadel from Lundbeck, where he served as Senior Vice President,
Head of U.S. R&D and Deputy Global Chief Medical Officer. While
at Lundbeck, he led the transformation of the U.S. R&D
organization and oversaw multiple cross-functional teams across
clinical development and operations, medical affairs, value
evidence (health outcomes), patient safety, clinical pharmacology
and regulatory affairs. Prior to Lundbeck, he served as Vice
President, Global Head Therapeutic Area leadership at Parexel
International, where he developed and instituted therapeutic area
strategies to guide new business acquisitions and was the
functional head of the medical group across all therapeutic areas.
Earlier in his career, Dr. Williamson held multiple roles at Eli
Lilly and Company, including Head, Early Phase Clinical Development
Neuroscience, where he oversaw the clinical development of all
novel molecules in the psychiatry, pain and neurodegeneration
portfolio. He earned a Bachelor of Medicine and Surgery (MBChB)
degree from Edinburgh University in Scotland. He is a member of the
Royal College of Psychiatrists.
“I am thrilled to join Avadel at such a pivotal time for the
company,” said Dr. Williamson. “Based on the positive data from the
phase 3 REST-ON study and the preliminary insights from the
on-going RESTORE study, I believe FT218 has tremendous potential to
improve the lives of people living with narcolepsy. I look forward
to collaborating with the Avadel team to bring FT218 to patients
and contributing to the acceleration of the organization’s
growth.”
In connection with the hiring of Dr. Williamson, the
Compensation Committee of the Board of Directors approved the grant
of non-statutory options to Dr. Williamson to purchase an aggregate
of 275,000 ordinary shares under Avadel’s 2021 Inducement Plan. The
awards were granted as an inducement material to Dr. Williamson’s
acceptance of employment with Avadel in accordance with Nasdaq
Listing Rule 5635(c)(4). The options have an exercise price of
$6.60 per share, which is equal to the closing price of Avadel’s
American Depositary Shares as reported by Nasdaq on February 11,
2022. The options have a ten year term and vest over four years,
with 25% vesting on the one-year anniversary of Dr. Williamson’s
first day of employment with Avadel and the remainder vesting in
equal annual installments of 25% for the three years thereafter,
subject to Dr. Williamson’s continued service with Avadel on each
such vesting date. The options are subject to the terms and
conditions of Avadel’s 2021 Inducement Plan approved by the Board
of Directors in November 2021 and the terms and conditions of award
agreements covering the grant.
About Avadel Pharmaceuticals plc
Avadel Pharmaceuticals plc (Nasdaq: AVDL) is a biopharmaceutical
company focused on transforming medicines to transform lives. Our
approach includes applying innovative solutions to the development
of medications that address the challenges patients face with
current treatment options. Our current lead drug candidate, FT218,
is an investigational formulation of sodium oxybate leveraging our
proprietary drug delivery technology and designed to be taken once
at bedtime for the treatment of excessive daytime sleepiness and
cataplexy in adults with narcolepsy. For more information, please
visit www.avadel.com.
Cautionary Disclosure Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements relate to our future expectations,
beliefs, plans, strategies, objectives, results, conditions,
financial performance, prospects, or other events. Such
forward-looking statements include, but are not limited to,
expectations regarding the FDA’s ongoing review of the NDA for
FT218 and the anticipated contributions of new members of the
management team to the Company’s operations and progress. In some
cases, forward-looking statements can be identified by the use of
words such as “will,” “may,” “could,” “believe,” “expect,” “look
forward,” “on track,” “guidance,” “anticipate,” “estimate,”
“project,” “next steps” and similar expressions, and the negatives
thereof (if applicable).
The Company’s forward-looking statements are based on estimates
and assumptions that are made within the bounds of our knowledge of
our business and operations and that we consider reasonable.
However, the Company’s business and operations are subject to
significant risks, and, as a result, there can be no assurance that
actual results and the results of the company’s business and
operations will not differ materially from the results contemplated
in such forward-looking statements. Factors that could cause actual
results to differ from expectations in the Company’s
forward-looking statements include the risks and uncertainties
described in the “Risk Factors” section of Part I, Item 1A of the
Company’s Annual Report on Form 10-K for the year ended December
31, 2020, which was filed with the Securities and Exchange
Commission (SEC) on March 9, 2021 and subsequent SEC filings.
Forward-looking statements speak only as of the date they are
made and are not guarantees of future performance. Accordingly, you
should not place undue reliance on forward-looking statements. The
Company does not undertake any obligation to publicly update or
revise our forward-looking statements, except as required by
law.
Investor Contact:Courtney TurianoStern Investor
Relations, Inc.Courtney.Turiano@sternir.com (212) 698-8687
Media Contact:Nicole Raisch GoelzReal
Chemistryngoelz@realchemistry.com (408) 568-4292
Avadel Pharmaceuticals (NASDAQ:AVDL)
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Avadel Pharmaceuticals (NASDAQ:AVDL)
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