SAN DIEGO—(BUSINESS WIRE)—July 16, 2007—ACADIA PharmaceuticalsInc. (Nasdaq:ACAD), a biopharmaceutical company utilizing innovativetechnology to fuel drug discovery and clinical development of noveltreatments for central nervous system disorders, today announced thatAllergan, Inc. will initiate an exploratory clinical study with asmall molecule drug candidate for the treatment of glaucoma, whichtriggered a milestone payment to ACADIA. The selective muscariniccompound emanates from a discovery made at ACADIA and is beingdeveloped pursuant to the companies' collaboration focused on noveltreatments for glaucoma.
"The advancement of our glaucoma program further exemplifies thelongstanding and highly productive alliance that we have withAllergan," said Uli Hacksell, Ph.D., Chief Executive Officer ofACADIA. "This program benefits greatly from Allergan's extensiveexpertise and leadership in the eye care field, and illustrates thecombined strength of ACADIA's and Allergan's discovery and developmentcapabilities."
Allergan is responsible for development and has worldwide rightsto commercialize products resulting from the companies' collaborationfor the treatment of ocular disease. ACADIA is entitled to receivemilestone payments and royalties on products successfully developedand commercialized under this collaboration.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company utilizing innovativetechnology to fuel drug discovery and clinical development of noveltreatments for central nervous system disorders. ACADIA currently hasfive mid-to-late stage clinical programs, as well as a portfolio ofpreclinical and discovery assets, directed at diseases with largeunmet medical needs, including schizophrenia, Parkinson's diseasepsychosis, sleep maintenance insomnia, and neuropathic pain. All ofthe drug candidates in ACADIA's product pipeline emanate fromdiscoveries made using its proprietary drug discovery platform.ACADIA's corporate headquarters is located in San Diego, Californiaand it maintains research and development operations in both San Diegoand Malmo, Sweden.
Forward-Looking Statements
Statements in this press release that are not strictly historicalin nature are forward-looking statements. These statements include butare not limited to statements related to potential milestone paymentsand royalties under the collaboration agreement with Allergan, thedevelopment and commercialization of drug candidates under theagreement, the safety, efficacy and potential benefits of anycompounds discovered or developed under the collaboration, and thebenefits to be derived from ACADIA's discovery and developmentcapabilities. These statements are only predictions based on currentinformation and expectations and involve a number of risks anduncertainties. Actual events or results may differ materially fromthose projected in any of such statements due to various factors,including the risks and uncertainties inherent in collaborations withothers and in drug discovery, development and commercialization. For adiscussion of these and other factors, please refer to ACADIA's annualreport on Form 10-K for the year ended December 31, 2006 as well asACADIA's subsequent filings with the Securities and ExchangeCommission. You are cautioned not to place undue reliance on theseforward-looking statements, which speak only as of the date hereof.This caution is made under the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. All forward-lookingstatements are qualified in their entirety by this cautionarystatement and ACADIA undertakes no obligation to revise or update thispress release to reflect events or circumstances after the datehereof.
CONTACT: ACADIA Pharmaceuticals Inc.
Lisa Barthelemy, Director, Investor Relations
Thomas H. Aasen, Vice President andChief Financial Officer
858-558-2871
SOURCE: ACADIA Pharmaceuticals Inc.