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Arena Pharmaceuticals Announces R&D Leadership Transition

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  • Paul D. Streck, M.D., Appointed as Senior Vice President, Clinical Development and Chief Medical Officer, Bringing Successful Development and Launch Experience Across Multiple Therapeutic Indications

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced a transition of its R&D leadership and the appointment of Paul D. Streck, M.D., as Senior Vice President, Clinical Development and Chief Medical Officer reporting to Amit Munshi, President and CEO. The transition follows the retirement and resignation of Chris Cabell, M.D., M.H.S., FACC, who served as the company's Executive Vice President, Head of Research and Development, and Chief Medical Officer since June 2020. The change is effective as of December 1, 2020 and Dr. Cabell will remain an advisor to the Company.

Dr. Streck brings more than 25 years of experience in drug development, regulatory and medical affairs leadership across both large and small publicly traded biopharmaceutical companies, and a track record of success with six global regulatory launches, five IND's and nine commercial product launches.

"Having Dr. Streck's deep executive experience as a physician in successful clinical development and medical affairs leadership roles puts Arena in a stronger position as we move toward completing late-stage clinical development into regulatory submission and pre-commercial planning. His proven global leadership roles across therapeutic indications provides for seamless integration for the Company's current and future clinical and regulatory activities," said Amit D. Munshi, Arena's President and Chief Executive Officer.

"On behalf of Arena's Board of Directors and management team, we would like to thank Chris for his ability to step into a critical role during an important time at our company. We wish him the best in his future endeavors."

Most recently, Dr. Streck served as Chief Medical Officer at Alder Biopharmaceuticals, Inc., a publicly traded biotechnology company, acquired by Lundbeck in late 2019. In this role, Dr. Streck led clinical development, clinical operations, medical affairs, regulatory, and safety/pharmacovigilance, and drove U.S. approval of Vyepti®, a biologic medicine for prevention of migraines. From 2017-2019, Dr. Streck was the Chief Medical Officer of Insmed, Inc., a publicly traded biotechnology company. Previous biopharmaceutical experience includes progressive roles at Amgen, Shire, and GSK. He also has 10 years of experience in academic medical practice.

About Arena Pharmaceuticals

ARENA Pharmaceuticals is a team with a singular purpose – deliver our important medicines to patients.

In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it's done.

ARENA - Care More. Act Differently.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements about Dr. Streck's expected contributions, Arena's position, drive, portfolio, prioritization, financial position, team, and building of the company. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include those disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

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