– USA, CA – Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) today announced that it has appointed Amit D. Munshi as President, Chief Executive Officer and interim principal financial officer, effective May 11, 2016. Mr. Munshi will also join Arena’s Board of Directors following Arena’s 2016 annual stockholders’ meeting, which is scheduled for June 13, 2016.
Mr. Munshi brings to Arena more than 25 years of global biopharmaceutical industry experience in executive management, business development, product development and portfolio management. Harry F. Hixson, Jr., Ph.D., who has served as Arena’s interim Chief Executive Officer and interim principal financial officer since October 2015 and as a director since 2004, will remain on Arena’s Board of Directors.
“Amit is a seasoned biopharmaceutical executive with the diverse experience and skill set necessary to lead Arena to its next phase of growth,” said Tina S. Nova, Ph.D., Arena’s Lead Independent Director and Chair of its CEO Search Committee. “As a company, we have made progress in aligning our focus with our core strengths over the past several months, and the Board looks forward to Amit’s leadership as we advance our therapeutic pipeline and drive toward important milestones.”
“Additionally, on behalf of the Board of Directors, I would like to thank Dr. Hixson for his leadership of the company during this transitional phase,” added Dr. Nova.
“I am honored to have the opportunity to lead Arena at this point in the company’s evolution,” said Mr. Munshi. “With a strong research platform, a marketed drug and three compounds currently in Phase 2 development, I believe Arena has the potential to deliver significant value while positively impacting the lives of patients. I look forward to working with Arena’s executive team and Board to advance the company.”
Mr. Munshi, age 48, served as President, Chief Executive Officer and a director of Epirus Biopharmaceuticals, Inc., a publicly traded biopharmaceutical company, from May 2012 to May 2016. Prior to Epirus, Mr. Munshi served as President and Chief Executive Officer of Percivia LLC, a biotechnology company, from 2011 to 2012, was a co-founder and served as Chief Business Officer of Kythera Biopharmaceuticals, Inc., from 2005 to 2010, and held multiple leadership positions at Amgen Inc. from 1997 to 2005, including General Manager, Nephrology Europe. Mr. Munshi serves on the boards of Oxeia Biopharmaceuticals, Inc., and Cytrellis Biosystems, Inc., both privately held companies. Mr. Munshi holds a B.S. in Economics and a B.A. in History from the University of California, Riverside, and an M.B.A. from the Peter F. Drucker Graduate School of Management at Claremont Graduate University.
About Arena Pharmaceuticals
Arena embraces the challenge of improving health by seeking to bring innovative medicines targeting G protein-coupled receptors to patients. Arena’s focus is discovering, developing and commercializing drugs to address unmet medical needs, and BELVIQ is Arena’s first internally discovered drug approved for marketing. Arena’s US operations are located in San Diego, California, and its operations outside of the United States, including its commercial manufacturing facility, are located in Zofingen, Switzerland.
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