SAN DIEGO—(BUSINESS WIRE)—Jun. 3, 2013—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 Allergan, Inc. (NYSE: AGN) has advanced an additional
product candidate as a potential new treatment for glaucoma. The novel
small molecule resulted from joint research conducted by the companies
under their recently concluded research collaboration focused on new
therapies for glaucoma and related ophthalmic conditions.
“We are delighted that Allergan has advanced another new chemical entity
emerging from our collaborative research into preclinical development,”
said Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA. “This
molecule has demonstrated an attractive profile and has distinctly
different properties from other glaucoma compounds advanced under the
collaboration. This program benefits greatly from Allergan’s expertise
and leadership in the eye care field and further illustrates the
combined strength of our joint discovery capabilities.”
Allergan is responsible for development and has worldwide rights to
commercialize products advanced under the companies’ glaucoma
collaboration. ACADIA is eligible to receive payments upon the
successful achievement of clinical and regulatory milestones as well as
royalties on future worldwide product sales, if any.
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 a pipeline of product candidates
led by pimavanserin, which is in Phase III development as a potential
first-in-class treatment for Parkinson's disease psychosis. ACADIA also
has clinical-stage programs for chronic pain and glaucoma in
collaboration with Allergan, Inc. and two advanced preclinical programs
directed at Parkinson’s disease and other neurological disorders. All
product candidates are small molecules that emanate from discoveries
made at ACADIA. 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, the benefits to be derived from such programs,
including those in collaboration with Allergan, the potential for new
therapies for glaucoma or other ophthalmic conditions, potential
development or commercialization of the product candidate, and potential
future milestone payments or royalties from 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, 2012 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