Acadia Pharmaceuticals Explained

Acadia Pharmaceuticals Inc.
Former Name:Receptor Technologies
Type:Public
Location:San Diego, California, U.S.
Key People:Stephen R. Davis (CEO)
Products:Pimavanserin
Num Employees:570 (June 30, 2020)
Footnotes:[1]

Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Sorrento Valley, San Diego, California.[2]

Product development

Nuplazid, a drug developed by Acadia in the late 1990s, "was designed to stimulate a subset of the brain’s serotonin receptors, or the proteins that govern memory, cognition and learning."[3] On April 29, 2016, the FDA approved Acadia's drug, Nuplazid, for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.[4] Nuplazid is the trade name for Acadia's proprietary molecule, pimavanserin, a selective serotonin inverse agonist preferentially targeting 5-HT2a receptors. Acadia had partnered with Biovail in the late-stage clinical testing of the drug, which showed trial failures as of 2009.[5] [6] [7]

Acadia is running multiple Phase 2 and Phase 3 trials with pimavanserin in several central nervous system conditions: dementia-related psychosis,[8] major depressive disorder,[9] schizophrenia inadequate response,[10] and schizophrenia negative symptoms.[11]

, Acadia was among several companies that licensed compounds from Genzyme's small-molecule compound library.[12]

In 2023, the FDA approved trofinetide (marketed as Daybue) for use in Rett syndrome.[13]

History

Acadia started in 1993 as Receptor Technologies, based in Winooski, Vermont.[14] In 1997, the company relocated all operations and management from Vermont to San Diego, California as a strategic move to garner partnerships with other biotechnology companies. However, the company also had an office in Denmark, in which it received a crucial part of its early investments[15] from BankInvest, under managing director Florian Schönharting,[16] [17] Kommunernes Pensionsforsikring A/S and Dansk Kapitalanlæg Aktieselskab as well as private investor Lars Christiansen.[18] At the time, the company had fifty employees, fourteen of whom were in the Denmark office. The focus of the company in its early years was on genetic screens for receptors, aiming to accelerate early stage drug discovery.

The company planned to conduct an Initial public offering (IPO) consisting of 31.6% of the company in 2001, with the intention of raising and listing on the NASDAQ exchange under the symbol ACAD.[19] At the time, Acadia and Allergan were collaborating on development of a treatment for glaucoma, and Allergan would retain a 6.3% ownership stake in Acadia after the IPO. However, the company's IPO, which ultimately took place in May 2004, did not fare as well as expected and netted only .[20] At the time, the company had five drugs in development and was running two in human trials.[21] The company had a subsequent round of stock offering in May 2007 which raised .[22]

In September 2020, Acadia Pharmaceuticals acquired clinical-stage biotechnology company CerSci Therapeutics.[23]

Corporate governance

In 2001, the company's chief executive officer at the time, Leonard R. Borrmann, left Acadia to lead Maret Pharmaceuticals.[24] He was succeeded by Uli Hacksell, who left Acadia to lead Cerecor at the beginning of 2016.[25]

Notes and References

  1. Web site: Acadia Pharmaceuticals Annual Report 2019. www.annualreports.com . ACADIA Pharmaceuticals for 10K .
  2. News: Jupiter's Abacoa site in the mix. Singer. Stacey. November 26, 2005. The Palm Beach Post. Cox. 19. West Palm Beach, Florida. Final. 36. 4A. Newspapers.com.
  3. Web site: Boyd. Roddy. 2018-07-09. Acadia Pharmaceuticals: This Is Not a Pharmaceutical Company. 2020-06-29. The Foundation for Financial Journalism. en-US.
  4. Web site: FDA Press Release . April 29, 2016.
  5. News: Market Movers. May 5, 2009. The Record. North Jersey Media Group. 335. Hackensack, New Jersey. 115. B-8. Newspapers.com.
  6. News: Acadia, Biovail plan more study on Parkinson's drug. October 7, 2009. The Ottawa Citizen. Canwest. Ottawa, Ontario. D3. Newspapers.com.
  7. News: Market Movers. September 2, 2009. The Record. New Jersey Media Group. 90. Hackensack, New Jersey. 115. L-8. Newspapers.com.
  8. Web site: Acadia Is Starting Phase 3 Trial of Nuplazid for Dementia-related Psychosis. 6 October 2017 .
  9. Web site: ACADIA Pharmaceuticals Initiates Phase III Trial of Pimavanserin for Adjunctive Treatment in Patients with Schizophrenia.
  10. Web site: ACADIA Pharmaceuticals Initiates Phase III Trial of Pimavanserin for Adjunctive Treatment in Patients with Schizophrenia.
  11. Web site: ACADIA Pharmaceuticals Initiates Phase II Trial of Pimavanserin for Adjunctive Treatment in Patients With Negative Symptoms of Schizophrenia.
  12. News: Bayer AG buys access to Genzyme library. Rosenberg. Ronald. December 19, 1997. The Boston Globe. 172. 252. C7. Newspapers.com.
  13. Harris . Emily . Trofinetide Receives FDA Approval as First Drug for Rett Syndrome . JAMA . 2023-03-22 . 329 . 14 . 1142 . 10.1001/jama.2023.4003 . 36947078 . 12 July 2023.
  14. News: Biotech with Danish ties settles on San Diego. Fikes. Bradley J.. August 20, 1997. North County Times. D1. Newspapers.com. ----"Biotech", continuation of article, p. D2.
  15. Web site: 27 November 2020. Acadia Pharmaceuticals SEC filing 2000. 27 November 2020. SEC.
  16. Web site: Vestergård. Vibeke. 2017-07-21. Biotekpioneren får milliarderne til at rulle. 2020-11-27. Berlingske.dk. da.
  17. Web site: Haaning. Karen. 2018-10-20. Biotekstjerne spottede de gode forretninger. 2020-11-27. Berlingske.dk. da.
  18. Web site: 2019-12-13. "The initial plans you work with will fail". 2020-11-27. investiere. en-US.
  19. News: Drug Developer Acadia Pharmaceuticals Files for IPO. February 6, 2001. Los Angeles Times. 7 Dec 2019. Bloomberg. 65. CXX. C3. Newspapers.com.
  20. News: As money-raisers, this year's biotech IPOs falling short. Krasner. Jeffrey. August 16, 2004. The Boston Globe. 47. Boston, Massachusetts. 266. C4. Newspapers.com.
  21. News: A disappointing year for biotech IPOs. Krasner. Jeffrey. August 23, 2004. Austin American-Statesman. Cox. Boston Globe. 26. Austin, Texas. Final. 134. D2. Newspapers.com.
  22. News: Equity > Additional Equity > Piper Jaffrey & Co.. July 23, 2007. Star Tribune. 110. Quarterly Deal Report, 2nd Quarter, 2007. Minneapolis-St. Paul, Minnesota. XXVI. D7. Newspapers.com.
  23. Web site: ACADIA Acquires CerSci Therapeutics to Boost Pain Portfolio. 2020-09-13. news.yahoo.com. 26 August 2020 . en-US.
  24. News: New Chief at Maret Pharmaceuticals. February 27, 2001. Los Angeles Times. 86. Orange County Newsmakers. National. CXX. C4. Newspapers.com.
  25. News: Cerecor's shares surge 25% after the CEO is replaced. December 23, 2015. The Baltimore Sun. Tribune Publishing Company. 357. Baltimore, Maryland. 178. 10. Newspapers.com.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Acadia Pharmaceuticals".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.