SAN DIEGO—(BUSINESS WIRE)—Jun. 3, 2013—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 Allergan, Inc. (NYSE: AGN) has advanced an additionalproduct candidate as a potential new treatment for glaucoma. The novelsmall molecule resulted from joint research conducted by the companiesunder their recently concluded research collaboration focused on newtherapies for glaucoma and related ophthalmic conditions.
“We are delighted that Allergan has advanced another new chemical entityemerging from our collaborative research into preclinical development,”said Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA. “Thismolecule has demonstrated an attractive profile and has distinctlydifferent properties from other glaucoma compounds advanced under thecollaboration. This program benefits greatly from Allergan’s expertiseand leadership in the eye care field and further illustrates thecombined strength of our joint discovery capabilities.”
Allergan is responsible for development and has worldwide rights tocommercialize products advanced under the companies’ glaucomacollaboration. ACADIA is eligible to receive payments upon thesuccessful achievement of clinical and regulatory milestones as well asroyalties on future worldwide product sales, if any.
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 a pipeline of product candidatesled by pimavanserin, which is in Phase III development as a potentialfirst-in-class treatment for Parkinson's disease psychosis. ACADIA alsohas clinical-stage programs for chronic pain and glaucoma incollaboration with Allergan, Inc. and two advanced preclinical programsdirected at Parkinson’s disease and other neurological disorders. Allproduct candidates are small molecules that emanate from discoveriesmade at ACADIA. 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, the benefits to be derived from such programs,including those in collaboration with Allergan, the potential for newtherapies for glaucoma or other ophthalmic conditions, potentialdevelopment or commercialization of the product candidate, and potentialfuture milestone payments or royalties from Allergan. These statementsare only predictions based on current information and expectations andinvolve a number of risks and uncertainties. Actual events or resultsmay differ materially from those projected in any of such statements dueto various factors, including the risks and uncertainties associatedwith drug discovery and development, including the fact that pastresults may not be indicative of future results. For a discussion ofthese and other factors, please refer to ACADIA’s annual report on Form10-K for the year ended December 31, 2012 as well as other subsequentfilings with the Securities and Exchange Commission. You are cautionednot to place undue reliance on these forward-looking statements, whichspeak only as of the date hereof. This caution is made under the safeharbor provisions of the Private Securities Litigation Reform Act of1995. All forward-looking statements are qualified in their entirety bythis cautionary statement and ACADIA undertakes no obligation to reviseor update this press release to reflect events or circumstances afterthe 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