SAN DIEGO--(BUSINESS WIRE)--Mar. 5, 2012--
ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD), a biopharmaceutical company
focused on innovative treatments that address unmet medical needs in
neurological and related central nervous system disorders, today
announced that it has extended its drug discovery and development
collaboration with Allergan, Inc. (NYSE: AGN). The collaboration is
currently focused on the discovery of new therapeutics for glaucoma and
other ophthalmic indications and was originally established in March
2003. The research term of this collaboration has now been extended by
the parties for an additional year through March 2013. ACADIA also has
two other collaboration agreements with Allergan, which have led to
clinical programs in the areas of chronic pain and glaucoma.
“We are pleased to extend our longstanding drug discovery collaboration
with Allergan,” said Uli Hacksell, Ph.D., Chief Executive Officer of
ACADIA. “This productive alliance has continued to lead to interesting
discoveries, which we hope to be able to translate into potential new
therapies for glaucoma and related ophthalmic conditions.”
During the extended term of the collaboration agreement, the parties
will jointly pursue research in the area of ophthalmology. Allergan is
entitled to exclusively license specified chemistry and related assets
for development and commercialization. ACADIA will receive research
funding and is eligible to receive license fees and milestone payments
upon the successful achievement of agreed-upon clinical and regulatory
objectives as well as royalties on future product sales, if any,
worldwide.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on innovative treatments
that address unmet medical needs in neurological and related central
nervous system disorders. ACADIA has four product candidates in clinical
development led by pimavanserin, which is in Phase III development as a
potential first-in-class treatment for Parkinson's disease psychosis.
ACADIA’s other clinical-stage products include collaborative programs
for chronic pain and glaucoma with Allergan, Inc. and a collaborative
program for schizophrenia with Meiji Seika Pharma Co., Ltd. In addition,
ACADIA has preclinical programs directed at Parkinson’s disease and
other neurological disorders. All of ACADIA’s product candidates are
small molecules that emanate from discoveries made using its proprietary
drug discovery platform. ACADIA maintains a website at www.acadia-pharm.com
to which ACADIA regularly posts copies of its press releases as well as
additional information and through which interested parties can
subscribe to receive email alerts.
Forward-Looking Statements
This press release contains statements that are forward-looking,
including statements regarding the timing and results from our research
and development programs and the benefits to be derived from such
programs, including those in collaboration with Allergan. These
statements are only predictions based on current information and
expectations and involve a number of risks and uncertainties. Actual
events or results may differ materially from those projected in any of
such statements due to various factors, including the risks and
uncertainties associated with drug discovery and development, including
the fact that past results may not be indicative of future results. For
a discussion of these and other factors, please refer to ACADIA’s annual
report on Form 10-K for the year ended December 31, 2010 as well as
other subsequent filings with the Securities and Exchange Commission.
You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. This caution is made
under the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All forward-looking statements are qualified in
their entirety by this cautionary statement and ACADIA undertakes no
obligation to revise or update this press release to reflect events or
circumstances after the date hereof, except as required by law.
Source: ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc.
Thomas H. Aasen, Executive
Vice President,
Chief Financial Officer and Chief Business
Officer
(858) 558-2871