Avadel Pharmaceuticals plc announced that Michael S. Anderson has resigned as Chief Executive Officer and as a member the Company's Board of Directors. Gregory J. Divis, Chief Operating Officer of Avadel, has been named Interim Chief Executive Officer of Avadel, effective immediately. The Board of Directors is initiating a search for a permanent Chief Executive Officer.

In conjunction with the management change, Geoffrey M. Glass, President of Clear Sciences, LLC and current member of Avadel's Board of Directors, has been named Chairman of the Board. The Honorable Craig Stapleton is stepping down as Chairman but will remain on the Company's Board. In addition, Dr. Eric J. Ende, has joined Avadel's Board of Directors following consultation with Broadfin Capital, LLC.

Dr. Ende currently serves as President of Ende BioMedical Consulting Group and as a member of Matinas Biopharma's Board of Directors. Previously he served on the Board of Directors of Genzyme from 2010 until it was acquired by Sanofi-Aventis in 2011 for $20 billion. During his tenure on Genzyme's Board of Directors, Dr. Ende was a member of the Audit and Risk Management Committees.