Alkermes Announces 3rd Annual Competitive Grants Program to Support Those Affected by Mental Health and Substance Use Disorders

News provided by

05 Sep, 2018, 11:00 GMT

-- ALKERMES Inspiration Grants® Program Will Award Up to $1 Million for the Development or Expansion of Innovative Programs --

-- Applications Now Open for Submission Through Oct. 2, 2018 --

DUBLIN, Sept. 5, 2018 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) today announced that the company is now accepting applications for the 3^rd annual ALKERMES INSPIRATION GRANTS^® program. The competitive program will award up to $1 million in grants to various organizations for the implementation of innovative, high-impact and replicable programs designed to make a positive difference in the lives of people affected by mental health and substance use disorders. The application period is now open and will run through Oct. 2, 2018.

"Addiction and mental health illnesses are the cause of a tremendous amount of suffering—for the individuals affected and for their families, friends and communities," said Richard Pops, Chief Executive Officer at Alkermes. "At Alkermes, we know that medicines are only one component of comprehensive care, and it is our mission to be part of the broader solution—supporting the organizations that are working on the front lines to care for those most impacted. The ALKERMES INSPIRATION GRANTS program is designed to provide this support. Now in our third year, we are proud of the impact these grants are having and look forward to supporting more of the inspiring innovation happening across the country."

"The overwhelming number and quality of submissions we received over the past two years demonstrated that meaningful and innovative programs exist across the country; however, the submissions also highlighted the significant lack of resources available to support those with mental health conditions and substance use disorders," said Nikki Levy, Vice President of Patient Engagement at Alkermes. "We hope this program will provide needed funding for some of these programs to succeed and replicate, building on our promise to make a difference in patients' lives through research, development and advocacy."

Alkermes will award grants for the development or expansion of programs to support mental health and addiction in two key areas: improving or enhancing support or resources for people affected by mental health or substance use disorders, and/or integrating the perspective of people affected by mental health or substance use disorders into drug development or care delivery. Eligible non-profit organizations may submit applications for grants by clicking here or visiting www.alkermes.com/responsibility/inspiration-grants. Multiple submissions by the same organization are permitted.

Submissions are evaluated based on a set of standard criteria and selected by Alkermes in partnership with external reviewers who represent the perspectives of the community. Over the past two years, the ALKERMES INSPIRATION GRANTS program has supported the efforts of more than two dozen organizations to continue their important work in local communities and nationally.

"Our 2017 ALKERMES INSPIRATION GRANT made a tremendous difference in the impact the Caregiver Action Network can make for families affected by mental health issues. Family caregiving is never easy and mental illness presents additional challenges. We have always wanted to directly reach more family members of those with mental health issues, but simply didn't have the resources," said John Schall, Chief Executive Officer of Caregiver Action Network. "The ALKERMES INSPIRATION GRANTS program allowed us to offer thousands of families practical advice and information through our new four-part Blueprint for Family Caregivers of Loved Ones with Mental Health Issues electronic guidebook."

Only eligible U.S. 501(c)(3) non-profit organizations may apply. These may include, but are not limited to, patient organizations and professional societies. The applications close at 11:59 p.m. ET on Oct. 2, 2018. Grants will be awarded in November and funding will be distributed at the end of the calendar year. Historically, the funding awarded to individual programs has ranged from $12,000 to $200,000.

For more information on the ALKERMES INSPIRATION GRANTS program, including the application, submission instructions and evaluation criteria, please visit www.alkermes.com/inspirationgrants.

About Alkermes plc
Alkermes plc is a fully integrated, global biopharmaceutical company developing innovative medicines for the treatment of central nervous system (CNS) diseases. The company has a diversified commercial product portfolio and a substantial clinical pipeline of product candidates for chronic diseases that include schizophrenia, depression, addiction and multiple sclerosis. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and a manufacturing facility in Wilmington, Ohio. For more information, please visit Alkermes' website at www.alkermes.com.

Note Regarding Forward-Looking Statements
Certain statements set forth in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The company cautions that forward-looking statements are inherently uncertain. Although the company believes that such statements are based on reasonable assumptions within the bounds of its knowledge of its business and operations, the forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others, those risks and uncertainties described under the heading "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2017, Quarterly Report on Form 10-Q for the quarter ended June 30, 2018 and in subsequent filings made by the company with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the company disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release.

ALKERMES INSPIRATION GRANTS^® is a registered trademark of Alkermes, Inc.