ACADIA Pharmaceuticals Announces Advancement by Allergan of Novel Glaucoma Compound into Preclinical Development
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.
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.
ACADIA Pharmaceuticals Inc.
Thomas H. Aasen, Executive Vice President,
Chief Financial Officer and Chief Business Officer