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Article: SEPRACOR GETTING $20M WORTH OF ACADIA SHARES IN CNS DEAL.
- Article from:
- BIOWORLD Today
- Article date:
- January 12, 2005
- Author:
CopyrightCOPYRIGHT 2005 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jennifer Boggs, Staff Writer
Acadia Pharmaceuticals Inc. is poised to receive a $20 million equity purchase and up to $75 million in aggregate payments in a collaboration deal with Sepracor Inc.
The partnership includes a three-year research and development term, during which the companies will develop drug candidates using Acadia's discovery platform to treat central nervous system disorders.
"Sepracor is an ideal partner because of its strong expertise in late-stage development and commercialization and marketing capabilities," said Tom Aasen, chief financial officer of San Diego-based Acadia, adding that Sepracor will ...