SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 13, 1999
SYNAPTIC PHARMACEUTICAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-27324 22-285-9704
(Commission File Number) (I.R.S. Employer Identification No.)
215 College Road
Paramus, New Jersey 07652-1431
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (201) 261-1331
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Item 5. Other Events.
On April 13, 1999, Synaptic Pharmaceutical Corporation (the "Company")
issued a press release announcing the election of Patrick J. McDonald, former
Executive Director in Corporate Licensing for Merck & Co., Inc., to its Board of
Directors. A copy of the press release is attached as Exhibit 99 to this Form
8-K and incorporated by reference herein.
Item 7. Exhibits.
Exhibit No. Page
- ----------- ----
99 Press Release dated April 13, 1999 4
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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.
Date: April 16, 1999
SYNAPTIC PHARMACEUTICAL CORPORATION
(Registrant)
By: /s/ Kathleen P. Mullinix
-------------------------------
Name: Kathleen P. Mullinix
Title: Chairman, President and
Chief Executive Officer
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Exhibit No. 99
--------------
FOR IMMEDIATE RELEASE Contact: Kathleen P. Mullinix, Ph.D.
Chairman, President and
Chief Executive Officer
Synaptic Pharmaceutical Corporation
(201) 261-1331, ext. 103
Stacy Lipschitz
Ruder Finn, Inc.
(212) 583-2757
SYNAPTIC PHARMACEUTICAL EXPANDS BOARD OF DIRECTORS
PARAMUS, NJ, April 13, 1999 -- Synaptic Pharmaceutical Corporation (Nasdaq:
SNAP) today announced the election of Patrick J. McDonald, 58, to the Company's
Board of Directors. The appointment increases the number of directors to eight.
Mr. McDonald was most recently the Executive Director in Corporate Licensing for
Merck & Co. Inc., where he was responsible for the successful negotiation of
licensing agreements for several products, as well as for fostering
relationships with external partners from which a number of compounds and
technologies emerged. Mr. McDonald's career at Merck spanned over 32 years,
where he worked in a number of different capacities including sales,
advertising, marketing planning, marketing, business development and licensing.
He was also instrumental in establishing Merck's first competitive product
launch team; the first report on the U.S. patient population by major
cardiovascular disease; and the first predictive product launch model to
determine the appropriate levels of manpower and promotional support for new
products.
Kathleen P. Mullinix, Ph.D., chairman, president and chief executive officer
commented, "Pat is a well-known and highly respected professional in the
pharmaceutical industry. His expansive career at Merck, combined with his
expertise in product licensing and development of strategic relationships will
be invaluable to Synaptic as we continue to build our business."
Synaptic Pharmaceutical Corporation has developed "human receptor-targeted drug
design technology," which involves the use of cloned human receptors as targets
for the design of potential drugs. The Company is collaborating with the
following three pharmaceutical companies, all of which have been granted
licenses in connection with such collaborations under certain patent rights and
to certain technologies of the company: Eli Lilly and Company for migraine
headache, depression and obesity; Grunenthal GmbH for the alleviation of pain;
and Warner-Lambert Company
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for a variety of disorders. Merck and Co., Inc., Novartis Pharma A.G. and Glaxo
Group Limited have also been granted licenses by the company.
This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such statements include any statements relating to the
future growth of the Company and any other statements that are not historical
facts. Such statements involve risks and uncertainties, including, but not
limited to, those risks and uncertainties relating to the inability to license
potential products or certain rights thereto to third parties or to enter into
strategic relationships, such as collaborative or other licensing arrangements,
and those risks and uncertainties detailed in the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 1998 (the "1998 Form 10-K") or
detailed from time to time in filings the Company makes with the Securities and
Exchange Commission. Although the Company believes that the expectations
reflected in the forward-looking statements contained herein are reasonable, it
can give no assurance that such expectations will prove to be correct. The
Company expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statement contained herein to
reflect any change in the Company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.
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