SAN DIEGO, Sept. 2 /PRNewswire-FirstCall/ —ACADIA Pharmaceuticals Inc.(Nasdaq: ACAD) and Medeon Science Park today announced plans to establish amodern chemistry research and development facility in Malmo, Sweden. The newlaboratory, under construction by Medeon Fastigheter AB, is centrally locatedwithin the Medicon Valley region, home to greater than 60 per cent ofScandinavian pharmaceutical and biotechnology companies.
ACADIA's biological research and clinical development activities areconducted at the company's headquarters in San Diego, California. Since 1997,ACADIA has maintained its chemistry research operations in the Copenhagenregion. ACADIA intends to occupy the new 3000 m2 custom-built chemistrylaboratory to support expansion of its proprietary drug discovery activities,while continuing to maintain a Danish presence.
"Over the past seven years, ACADIA has successfully built an outstandingchemistry research subsidiary in Denmark and with the establishment of thisnew facility, we will be able to continue to grow our Scandinavianoperations," said Bo-Ragnar Tolf, Ph.D., vice president, chemistry andmanaging director of Danish subsidiary ACADIA Pharmaceuticals A/S. "The Malmosite, with its ideal location at the Medeon Science Park, should give us greatvisibility and access to a growing scientific talent pool in the MediconValley region."
"We view ACADIA's choice of Medeon and Malmo as confirmation that the cityis attractive for knowledge-intensive companies," remarked Ilmar Reepalu, themunicipal financial commissioner in Malmo. "For a couple years now, Malmo hasbeen expending considerable effort to create optimal conditions for innovativeentrepreneurship."
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company utilizing innovative science to fueldrug 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.
About Medeon Science Park
Medeon Science Park, with its extensive network and ideal geographicallocation in the Medicon Valley region, is an optimal platform for establishedas well as start-up companies based on research or knowledge-intensiveinnovation in the medical and health care areas. Medeon's newest building,scheduled for completion in mid-2005, will be the largest built since thescience park was established almost 20 years ago.
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 plans for ACADIA's facilities inScandinavia. 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 construction and drug development and commercialization. For adiscussion of these and other factors, please refer to ACADIA's registrationstatement on Form S-1 as well as other subsequent filings with the Securitiesand Exchange Commission.
Contacts:
United States:
Thomas H. Aasen, Vice President and Chief Financial Officer
+1 858-558-2871
Europe:
Bo-Ragnar Tolf, Ph.D., VP of Chemistry andManaging Director of ACADIA Pharmaceuticals A/S
+45 4329-3000