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Article: Acadia Could Garner $25M in Antipsychotic Drug Deal.
- Article from:
- BIOWORLD Today
- Article date:
- March 26, 2009
- Author:
CopyrightCOPYRIGHT 2009 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: Catherine Hollingsworth, Staff Writer
At a time when many biopharmaceutical firms are struggling to fund earlier-stage projects, San Diego-based Acadia Pharmaceuticals Inc. has entered a $25 million deal with a Japanese drugmaker that funnels resources to a preclinical program, allowing it to stay focused on its lead Phase III program.
Acadia has licensed the Asian rights to its preclinical class of pro-cognitive antipsychotics (PCAPs) to Tokyo-based Meiji Seika Kaisha Ltd. for an undisclosed up-front fee, causing the company's shares to jump 9.5 percent Wednesday. The companies will nominate one of the PCAP compounds to be taken into clinical ...