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CURRENT REPORT
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| ITEM 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) On September 29, 2020, Dr. Andrew Satlin notified Intra-Cellular Therapies, Inc. (the “Company”) that he would resign from his position as Chief Medical Officer of the Company effective as of October 28, 2020 in order to pursue a new opportunity. Dr. Satlin will assist with the transition of his responsibilities through October 28, 2020. Dr. Satlin’s resignation was not the result of any disagreement with the Company or its Board of Directors on any matter relating to the Company’s operations, policies or practices.
| ITEM 8.01 | Other Events. |
On October 1, 2020, the Company announced its promotion of Suresh K. Durgam, M.D. to the position of Chief Medical Officer of the Company. Dr. Durgam has served as the Company’s Senior Vice President, Late Stage Clinical Development and Medical Affairs since joining the Company in August 2018.
A copy of the press release announcing Dr. Durgam’s promotion is attached hereto as Exhibit 99.1.
| ITEM 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
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| 99.1 | Press Release of Intra-Cellular Therapies, Inc., dated October 1, 2020. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INTRA-CELLULAR THERAPIES, INC. | ||
| By: | /s/ Lawrence J. Hineline | |
| Lawrence J. Hineline | ||
| Senior Vice President of Finance, Chief Financial Officer, Treasurer and Assistant Secretary | ||
Date: October 1, 2020
Exhibit 99.1
Intra-Cellular Therapies Announces the Appointment of Dr. Suresh Durgam as Chief Medical Officer
NEW YORK, October 1, 2020 (GLOBE NEWSWIRE) — Intra-Cellular Therapies, Inc. (Nasdaq:ITCI), a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, today announced the promotion of Dr. Suresh Durgam to the position of Chief Medical Officer. Additionally, Dr. Andrew Satlin will step down as Chief Medical Officer, and will leave the Company effective October 28, 2020 to pursue a new opportunity.
“Dr. Durgam has a proven track record and deep expertise in neuropsychiatric drug development and has led our lumateperone clinical programs, including the schizophrenia and bipolar depression programs, while also playing a critical role in shaping our research and development strategy,” said Dr. Sharon Mates, Chairman and CEO of Intra-Cellular Therapies. “I look forward to continuing to work with him to advance our pipeline. Prior to joining Intra-Cellular Therapies, Dr. Durgam led the clinical development of the antipsychotic cariprazine, which received approval in schizophrenia and bipolar disorder. I would like to thank Dr. Satlin for his contributions to the Company and wish him continued success.”
Dr. Durgam has served as Intra-Cellular Therapies Senior Vice President, Late Stage Clinical Development and Medical Affairs since joining the Company in 2018. He has been instrumental in the success of our schizophrenia and bipolar depression programs. Dr. Durgam, has over 23 years of experience in clinical research which includes over 17 years in neuropsychiatric drug development, including the development of antipsychotics and antidepressants.
Dr. Durgam served in clinical development leadership roles at Forest Laboratories, Solvay and Allergan plc. He led programs across various indications including major depressive disorder, bipolar mania, bipolar depression, schizophrenia, cognitive impairment associated with schizophrenia, negative symptoms in schizophrenia, anxiety disorders, and pain. He has experience in the U.S. and globally in all phases of drug development from
Phase I through Phase 4 studies. In addition to his role in the development of cariprazine and its approval in schizophrenia and bipolar disorder, Dr. Durgam oversaw studies with vilazodone, levomilancipran, and asenapine that led to sNDA fillings and supplemental approvals. He also led the major depressive disorder program with rapastinel and onabotulinumtoxinA for depression.
Dr. Durgam graduated with his medical degree from the Siddhartha Medical College in India and received his residency training in psychiatry at Scott & White Clinic and Hospital – Texas A&M University System College of Medicine.
About Intra-Cellular Therapies
Intra-Cellular Therapies is a biopharmaceutical company founded on Nobel prize-winning research that allows us to understand how therapies affect the inner-workings of cells in the body. The company leverages this intracellular approach to develop innovative treatments for people living with complex psychiatric and neurologic diseases.
Contact
Intra-Cellular Therapies, Inc.
Juan Sanchez, M.D.
Vice President, Corporate Communications and Investor Relations
646-440-9333
Burns McClellan, Inc.
Lisa Burns
jgrimaldi@burnsmc.com
212-213-0006
Media Inquiries:
Ana Fullmer
Corporate Media Relations W20wcg
afullmer@wcgworld.com
202-507-0130