SAN DIEGO, Oct. 26 /PRNewswire-FirstCall/ —ACADIA Pharmaceuticals Inc.(Nasdaq: ACAD), a biopharmaceutical company utilizing innovative technology tofuel drug discovery and clinical development of novel treatments for centralnervous system disorders, today announced that Allergan, Inc. (NYSE: AGN) hasfiled an Investigational New Drug application with the FDA covering a smallmolecule drug candidate for the treatment of neuropathic pain, triggering amilestone payment to ACADIA.
ACADIA and Allergan have an ongoing collaboration focused on noveltreatments for neuropathic pain. "We are delighted that our alliance withAllergan has generated a new class of drug candidates for the treatment ofneuropathic pain," said Uli Hacksell, Ph.D., ACADIA's Chief Executive Officer."The success we have achieved in this program exemplifies the longstanding,productive relationship that we have maintained with Allergan, and thecombined strength of ACADIA's and Allergan's discovery and developmentcapabilities."
Allergan is responsible for clinical development and has worldwide rightsto commercialize products resulting from the companies' collaboration. ACADIAis entitled to receive milestones and royalties on products successfullydeveloped and commercialized under this collaboration.
About Neuropathic Pain
Neuropathic pain is a common and increasingly prevalent form of pain thatis thought to involve an alteration in nervous system function or areorganization of nervous system structure. It can be associated with nervedamage caused by trauma, diseases such as diabetes, shingles, irritable bowelsyndrome, late-stage cancer or the toxic effects of chemotherapy. Theexperience can range from mildly increased sensitivity to touch or temperatureto excruciating pain, and medications currently used to treat other forms ofpain —such as opioid painkillers and nonsteroidal anti-inflammatoryagents —are usually ineffective and have significant adverse effects.Currently, the leading treatment for neuropathic pain is Neurontin, which hadworldwide sales of approximately $2.7 billion in 2003.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company utilizing innovative technology tofuel drug discovery and clinical development of novel treatments for centralnervous system disorders. ACADIA currently has five drug programs in clinicaland preclinical development directed at large unmet medical needs and majorcommercial markets, including Parkinson's disease, schizophrenia, chronic painand glaucoma. Using its proprietary drug discovery platform, ACADIA hasdiscovered all of the drug candidates in its product pipeline. ACADIA'sheadquarters and biology research facilities are located in San Diego,California and its chemistry research facilities are located near Copenhagen,Denmark.
Forward Looking Statements
Statements in this press release that are not strictly historical innature are forward-looking statements. These statements include but are notlimited to statements related to the development of drug candidates forneuropathic pain. These statements are only predictions based on currentinformation and expectations and involve a number of risks and uncertainties.Actual events or results may differ materially from those projected in any ofsuch statements due to various factors, including the risks and uncertaintiesinherent in drug development and commercialization. For a discussion of theseand other factors, please refer to ACADIA's registration statement on Form S-1as well as other subsequent filings with the Securities and ExchangeCommission.
For further information, please contact: Uli Hacksell, Ph.D., ChiefExecutive Officer of ACADIA Pharmaceuticals, +1-858-558-2871.