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Acadia Pharmaceuticals Inc. (ACAD) Announces Extended Drug Discovery Partnership with Allergan Inc. (AGN)

Apr. 04, 2011 9:43 AM ETACAD
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Acadia Pharmaceuticals Inc., a biopharmaceutical company that focuses on drug discovery and clinical development of novel treatments for the central nervous system, recently announced that it has extended its drug development and discovery partnership with Allergan, Inc. The alliance is mainly focused on the discovery of new techniques for glaucoma and other ophthalmic indications and was originally established in March of 2003. Both parties have now extended the research term of this partnership for an extra year, now through March 2012. ACADIA also has two other collaborative projects with Allergan, which have led to clinical programs for chronic pain and glaucoma.

“We are delighted to extend our longstanding scientific collaboration with Allergan, an acknowledged leader in the field of eye care,” said Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA. “This productive alliance has led to several interesting discoveries, which we hope to be able to translate into potential new therapies for glaucoma and related ophthalmic conditions.”

During the extended period of the partnership agreement, the parties will pursue research in the areas of eye care as well. Allergan is authorized to license specified chemistry and related assets exclusively, and is eligible to receive license fees and milestone payments, all dependent on the success of agreed-upon clinical and regulatory objectives, as well as any royalties on future product sales around the world.

The company also recently announced that it will be presenting at the Tenth Annual Needham Healthcare Conference on Tuesday, April 5, 2011, at 8:40 AM E.T at The New York Palace Hotel in New York City.

A live webcast will be available on the company’s website, acadia-pharm.com, to be found under the investors section and an archived recording will be available on the website through April 19, 2011.

Acadia Pharmaceuticals Inc., a biopharmaceutical company, focuses on drug discovery and clinical development of novel treatments for central nervous system disorders. The company’s portfolio consists of four product candidates, which include pimavanserin, a Phase III clinical development as a treatment for Parkinson’s disease psychosis. It is also developing AGN XX/YY, a product candidate in Phase II for chronic pain; and AC-262271, a product candidate in Phase I for glaucoma, as well as AM-831, a product candidate in IND-track development for schizophrenia in partnership with Meiji Seika Kaisha.

For more information on the company and its future projects, visit their company website, acadia-pharm.com

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