John Varian Joins Acorda Therapeutics Board of Directors
ARDSLEY, NY – January 3, 2022 – Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that John Varian has joined its board of directors effective January 1, 2022.
âWe are delighted that John has joined the Acorda Board of Directors,â said Ron Cohen, MD, President and CEO of Acorda. âWe expect his insights and advice to contribute significantly as we continue to progress towards our business goals, including optimizing the company’s financial structure and accelerating the growth of INBRIJA. ”
âI seek to serve on the board of directors of companies that represent significant opportunities, as well as challenges where my experience and skills can be useful. Acorda is such a company and I am delighted to join the board of directors, âsaid Mr. Varian. âAcorda has two major products on the market, one for Parkinson’s disease and the other for multiple sclerosis. I am impressed with the progress they have made in 2021 in addressing business challenges, and look forward to helping continue that progress in 2022. and beyond. ”
John Kelley, Chairman of the Board of Directors of Acorda, added: âI welcome John on behalf of the Board of Directors of Acorda. John has extensive experience as a leader in biopharmaceuticals, including as Chief Financial Officer and CEO. He has successfully overcome challenges similar to those facing Acorda, and we look forward to working with him to create shareholder value. â
Mr. Varian currently sits on the Board of Directors of AmMax Bio and Sellas Life Sciences, where he is Chairman of the Audit Committee and its Nomination and Governance Committee and its Scientific Committee. Previously, he was CEO of XOMA Corporation, where he led a financial restructuring of the company and also served on its board of directors. Mr. Varian previously served as COO of ARYx Therapeutics, Inc., CFO of Genset SA and Senior Vice President, Finance and Administration for Elan Pharmaceuticals, Inc. Mr. Varian has also served as Member of the Board of Directors. directors of Versartis, Inc. and Egalet Corporation.
About Acorda Therapeutics
Acorda Therapeutics develops therapies to restore function and improve the lives of people with neurological disorders. INBRIJAÂ® is approved for the intermittent treatment of OFF episodes in adults with Parkinson’s disease treated with carbidopa / levodopa. INBRIJA should not be used by patients who are taking or have taken a non-selective monoamine oxidase inhibitor such as phenelzine or tranylcypromine within the past two weeks. INBRIJA uses Acorda’s innovative ARCUS systemÂ® pulmonary delivery system, a technology platform designed to deliver drugs by inhalation. Acorda also markets the AMPYRA brandÂ® (dalfampridine) Prolonged-release tablets, 10 mg.
This press release contains forward-looking statements. All statements, other than statements of historical fact, regarding management’s expectations, beliefs, objectives, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties which could cause actual results to differ materially, including: we may not be able to successfully market AMPYRA, INBRIJA or any other product.
in development; the COVID-19 pandemic, including related restrictions on in-person interactions and travel, and the potential for illnesses, quarantines and vaccination mandates to affect our management, employees or consultants or those who work for d ‘other businesses on which we rely, could materially adversely affect our business operations or product sales; our ability to attract and retain key executives and other staff, or maintain access to expert advisors; our ability to raise additional funds to finance our operations, repay outstanding debt or meet other obligations, and our ability to control our costs or reduce planned spending; risks associated with trading in our common shares and our reverse stock split; risks associated with our corporate restructurings, including our ability to outsource certain operations, to achieve expected cost savings and to maintain the workforce required to continue operations; risks associated with complex and regulated manufacturing processes for pharmaceuticals, which could affect whether we have a sufficient commercial supply of INBRIJA to meet market demand; our reliance on third party manufacturers for the production of AMPYRA and INBRIJA business supplies; third-party payers (including government agencies) may not reimburse the use of INBRIJA at acceptable rates or not at all and may impose restrictive pre-authorization requirements that limit or block prescriptions; the use of collaborators and distributors to market INBRIJA and AMPYRA outside the United States; competition for INBRIJA and AMPYRA, including the growing competition and accompanying loss of revenue in the United States from generic versions of AMPYRA (dalfampridine) following our loss of patent exclusivity; the ability to realize the expected benefits of acquisitions, among other things because acquired development programs are generally subject to all the risks inherent in the drug development process and our knowledge of the risks specifically related to acquired programs generally improves with the time ; the risk of adverse results from future studies of INBRIJA (levodopa powder for inhalation) or other research and development programs, or any other program acquired or licensed; the occurrence of adverse events related to the safety of our products; the outcome (by judgment or settlement) and costs of legal, administrative or regulatory proceedings, investigations or inspections, including, without limitation, class, representative or class action litigation; failure to protect our intellectual property, defend ourselves against the intellectual property claims of others or obtain the licenses of third party intellectual property necessary to market our products; and failure to meet regulatory requirements could result in adverse action by regulators.
These and other risks are described in more detail in our filings with the Securities and Exchange Commission. We may not actually achieve the objectives or plans described in our forward-looking statements, and investors should not place undue reliance on such statements. Forward-looking statements made in this press release are made only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.