SAN DIEGO, Sept. 16 /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 officially opened its modern chemistryresearch and development facility in Malmo, Sweden. The new facilityconsolidates ACADIA's presence in Scandinavia and provides increased access toa highly skilled and well-educated workforce in the biotechnology hub of theMedicon Valley region.
ACADIA's Chief Executive Officer, Uli Hacksell, Ph.D., said, "Our newstate-of-the-art R&D facility demonstrates our commitment to strengthen ouroperations in medicinal chemistry and underscores our firm belief that thediscovery of new potential drug candidates is accelerated when medicinalchemistry is a core part of the discovery engine and introduced at an earlystage of the process."
Mark R. Brann, Ph.D., President and Chief Scientific Officer at ACADIA,said, "As our product candidates advance into late-stage development, ourmedicinal chemistry operations in Malmo will play a key role in supportingthese programs while discovering new product candidates to introduce into ourpipeline. At ACADIA, our teams of chemists, biologists, and clinicalscientists work closely together to produce drug candidates in a highlyefficient manner."
ACADIA's new 3,000 square meter custom-built chemistry facility is home toa significant portion of the company's research scientists. The chemists atACADIA play an important role in all aspects of the company's research anddevelopment efforts. They are responsible for building a diverse compoundlibrary, identifying and optimizing lead compounds that are the most promisingstarting points of drug discovery projects, and directing production of thecompounds so that they are suitable for human use. ACADIA's biologicalresearch and clinical development activities are conducted at the company'sheadquarters in San Diego, California.
"The Medicon Valley region is home to greater than 60 percent ofScandinavia's pharmaceutical and biotechnology companies and provides ACADIAwith access to a strong scientific talent pool," said Bo-Ragnar Tolf, Ph.D.,Vice President, Chemistry and Managing Director of Swedish subsidiary ACADIAPharmaceuticals AB.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals is a biopharmaceutical company utilizing innovativetechnology to fuel drug discovery and clinical development of novel treatmentsfor central nervous system disorders. ACADIA currently has four drug programsin clinical development as well as a portfolio of preclinical and discoveryassets directed at large unmet medical needs, including schizophrenia,Parkinson's disease, neuropathic pain, and glaucoma. Using its proprietarydrug discovery platform, ACADIA has discovered all of the drug candidates inits product pipeline. ACADIA's corporate headquarters is located in SanDiego, California, and it maintains research and development operations inboth San Diego and Malmo, Sweden.
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 ACADIA's access to potential employees, theprogress and timing of ACADIA's drug discovery and development programs andrelated trials, the contributions to be derived from the new chemistryfacility, the benefits to be derived from medicinal chemistry and ACADIA'sapproach to drug discovery, and ACADIA's future results. These statements areonly predictions based on current information and expectations and involve anumber of risks and uncertainties. Actual events or results may differmaterially from those projected in any of such statements due to variousfactors, including the risks and uncertainties inherent in drug discovery,development and commercialization. For a discussion of these and otherfactors, please refer to ACADIA's annual report on Form 10-K for the yearended December 31, 2004 filed with the United States Securities and ExchangeCommission as well as other subsequent filings with the Securities andExchange Commission. You are cautioned not to place undue reliance on theseforward-looking statements, which speak only as of the date hereof. Thiscaution is made under the safe harbor provisions of the Private SecuritiesLitigation Reform Act of 1995. All forward-looking statements are qualifiedin their entirety by this cautionary statement and ACADIA undertakes noobligation to revise or update this press release to reflect events orcircumstances after the date hereof.
Contacts:
United States
ACADIA Pharmaceuticals Inc.
Lisa Barthelemy, Director, Investor Relations
Thomas H. Aasen, Vice President and Chief Financial Officer
(858) 558-2871
Europe
Bo-Ragnar Tolf, Ph.D., Vice President of Chemistry and Managing Director
ACADIA Pharmaceuticals AB
+46 40 601 3400