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ACADIA Pharmaceuticals Announces Election of Bill Wells to Board of Directors

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"We are very pleased to have Bill join ACADIA's board," said Uli Hacksell, Ph.D., ACADIA's Chief Executive Officer. "His extensive business experience and leadership role in establishing a successful CNS-focused specialty pharmaceutical company will enhance our board's collective expertise. ACADIA will benefit from Bill's experience and perspective as we continue to advance our pipeline of product candidates, which is led by our Phase III pimavanserin program, and position pimavanserin for commercial success in the specialty neurology market."

Mr. Wells was Chief Executive Officer of Biovail Corporation from May 2008 through the time of its merger with Valeant Pharmaceuticals International, Inc. in September 2010, during which time he led Biovail's strategic transformation into a specialty pharmaceutical company focused on specialty central nervous system markets. Following the merger, Mr. Wells served as Chairman of Valeant until December 2010. He was originally elected to the board of directors of Biovail in June 2005 and later served as Lead Director until his appointment as Chief Executive Officer. Prior to joining Biovail, Mr. Wells held a number of senior executive positions, including Chief Financial Officer of Loblaw Companies Limited, Canada's largest food distributor and a leading provider of general merchandise products, drugstore and financial products and services, Chief Financial Officer of Bunge Limited, a U.S. headquartered company engaged in the global agribusiness, fertilizer and food product industries, and financial management positions at McDonald's Corporation in the U.S. and Brazil. Mr. Wells is currently Chairman of the Board of Evizone Ltd., a privately held online communications service firm, and a Trustee and member of the audit committee of the Lakefield College School Foundation. Mr. Wells holds a Master's degree in International Business from the University of South Carolina and a Bachelor's degree in Philosophy and English from the University of Western Ontario.

"I am delighted to join the board and have the opportunity to work with the ACADIA team again," said Bill Wells. "I look forward to being a part of ACADIA during this exciting stage as we work to develop and commercialize promising new drugs like pimavanserin that offer the potential to improve the lives of patients suffering from neurological and psychiatric disorders."