SAN DIEGO—(BUSINESS WIRE)—Mar. 5, 2012—ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD), a biopharmaceutical companyfocused on innovative treatments that address unmet medical needs inneurological and related central nervous system disorders, todayannounced that it has extended its drug discovery and developmentcollaboration with Allergan, Inc. (NYSE: AGN). The collaboration iscurrently focused on the discovery of new therapeutics for glaucoma andother ophthalmic indications and was originally established in March2003. The research term of this collaboration has now been extended bythe parties for an additional year through March 2013. ACADIA also hastwo other collaboration agreements with Allergan, which have led toclinical programs in the areas of chronic pain and glaucoma.
“We are pleased to extend our longstanding drug discovery collaborationwith Allergan,” said Uli Hacksell, Ph.D., Chief Executive Officer ofACADIA. “This productive alliance has continued to lead to interestingdiscoveries, which we hope to be able to translate into potential newtherapies for glaucoma and related ophthalmic conditions.”
During the extended term of the collaboration agreement, the partieswill jointly pursue research in the area of ophthalmology. Allergan isentitled to exclusively license specified chemistry and related assetsfor development and commercialization. ACADIA will receive researchfunding and is eligible to receive license fees and milestone paymentsupon the successful achievement of agreed-upon clinical and regulatoryobjectives as well as royalties on future product sales, if any,worldwide.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on innovative treatmentsthat address unmet medical needs in neurological and related centralnervous system disorders. ACADIA has four product candidates in clinicaldevelopment led by pimavanserin, which is in Phase III development as apotential first-in-class treatment for Parkinson's disease psychosis.ACADIA’s other clinical-stage products include collaborative programsfor chronic pain and glaucoma with Allergan, Inc. and a collaborativeprogram for schizophrenia with Meiji Seika Pharma Co., Ltd. In addition,ACADIA has preclinical programs directed at Parkinson’s disease andother neurological disorders. All of ACADIA’s product candidates aresmall molecules that emanate from discoveries made using its proprietarydrug discovery platform. ACADIA maintains a website at www.acadia-pharm.comto which ACADIA regularly posts copies of its press releases as well asadditional information and through which interested parties cansubscribe 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 researchand development programs and the benefits to be derived from suchprograms, including those in collaboration with Allergan. Thesestatements are only predictions based on current information andexpectations and involve a number of risks and uncertainties. Actualevents or results may differ materially from those projected in any ofsuch statements due to various factors, including the risks anduncertainties associated with drug discovery and development, includingthe fact that past results may not be indicative of future results. Fora discussion of these and other factors, please refer to ACADIA’s annualreport on Form 10-K for the year ended December 31, 2010 as well asother subsequent filings with the Securities and Exchange Commission.You are cautioned not to place undue reliance on these forward-lookingstatements, which speak only as of the date hereof. This caution is madeunder the safe harbor provisions of the Private Securities LitigationReform Act of 1995. All forward-looking statements are qualified intheir entirety by this cautionary statement and ACADIA undertakes noobligation to revise or update this press release to reflect events orcircumstances after the date hereof, except as required by law.
Source: ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc.
Thomas H. Aasen, ExecutiveVice President,
Chief Financial Officer and Chief BusinessOfficer
(858) 558-2871