SAN DIEGO, Sept. 16 /PRNewswire-FirstCall/ —ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD), a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders, today officially opened its modern chemistry research and development facility in Malmo, Sweden. The new facility consolidates ACADIA's presence in Scandinavia and provides increased access to a highly skilled and well-educated workforce in the biotechnology hub of the Medicon Valley region.
ACADIA's Chief Executive Officer, Uli Hacksell, Ph.D., said, "Our new state-of-the-art R&D facility demonstrates our commitment to strengthen our operations in medicinal chemistry and underscores our firm belief that the discovery of new potential drug candidates is accelerated when medicinal chemistry is a core part of the discovery engine and introduced at an early stage 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, our medicinal chemistry operations in Malmo will play a key role in supporting these programs while discovering new product candidates to introduce into our pipeline. At ACADIA, our teams of chemists, biologists, and clinical scientists work closely together to produce drug candidates in a highly efficient manner."
ACADIA's new 3,000 square meter custom-built chemistry facility is home to a significant portion of the company's research scientists. The chemists at ACADIA play an important role in all aspects of the company's research and development efforts. They are responsible for building a diverse compound library, identifying and optimizing lead compounds that are the most promising starting points of drug discovery projects, and directing production of the compounds so that they are suitable for human use. ACADIA's biological research and clinical development activities are conducted at the company's headquarters in San Diego, California.
"The Medicon Valley region is home to greater than 60 percent of Scandinavia's pharmaceutical and biotechnology companies and provides ACADIA with access to a strong scientific talent pool," said Bo-Ragnar Tolf, Ph.D., Vice President, Chemistry and Managing Director of Swedish subsidiary ACADIA Pharmaceuticals AB.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals is a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders. ACADIA currently has four drug programs in clinical development as well as a portfolio of preclinical and discovery assets directed at large unmet medical needs, including schizophrenia, Parkinson's disease, neuropathic pain, and glaucoma. Using its proprietary drug discovery platform, ACADIA has discovered all of the drug candidates in its product pipeline. ACADIA's corporate headquarters is located in San Diego, California, and it maintains research and development operations in both San Diego and Malmo, Sweden.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include but are not limited to statements related to ACADIA's access to potential employees, the progress and timing of ACADIA's drug discovery and development programs and related trials, the contributions to be derived from the new chemistry facility, the benefits to be derived from medicinal chemistry and ACADIA's approach to drug discovery, and ACADIA's future results. 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 inherent in drug discovery, development and commercialization. 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, 2004 filed with the United States Securities and Exchange Commission 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.
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