ACADIA Pharmaceuticals Acquires CerSci Therapeutics, Adds Novel Pain Program to Portfolio
August 25 2020 - 9:00AM
Business Wire
- First-in-class, non-opioid, mechanism
interrupts pain pathways
- Phase 2 initiation planned for the first half
of 2021
ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) today announced the
acquisition of CerSci Therapeutics, a clinical-stage biotechnology
company with worldwide rights to a portfolio of novel compounds for
neurological conditions, including non-opioid therapies for acute
and chronic pain. The lead development program is a unique Reactive
Species Decomposition Accelerant (RSDAx), a first-in-class
mechanism focused on interrupting pathways that sensitize neurons
to pain. The portfolio contains additional preclinical stage
molecules, including brain penetrant molecules, with potential for
symptomatic and disease modifying treatment utility in
neurodegenerative diseases.
This acquisition strengthens ACADIA’s clinical pipeline to
include non-opioid pain therapies that have potential non-addictive
properties and reduced side effects typically seen with current
opioid treatments. The lead molecule, ACP-044, has shown promising
efficacy and safety results in animal models evaluating incisional,
inflammatory, and neuropathic pain, as well as favorable
tolerability and pharmacokinetic properties in Phase 1 trials. The
novel RSDAx mechanism of action is thought to interfere with
multiple pain pathways treating pain simultaneously. ACADIA plans
to initiate a Phase 2 clinical study in the first half of 2021.
“There is an urgent need for new approaches to treat pain
without causing addiction,” said Steve Davis, ACADIA’s Chief
Executive Officer. “We are excited by the potential clinical
utility of this program across multiple pain modalities due to its
novel non-opioid mechanism of action. By acquiring CerSci, ACADIA
is further strengthening our development pipeline for long-term
growth in central nervous system disorders.”
“For too long, the options for patients with acute and chronic
pain have been very limited,” said Lucas Rodriguez, CEO and
co-founder of CerSci. “I am highly confident that ACADIA, with its
proven development and commercialization capabilities, can advance
CerSci’s program and ultimately deliver a new generation of
medicines to treat acute post-operative as well as chronic pain
conditions.”
Under the terms of the agreement, ACADIA acquired all of the
outstanding shares of CerSci for $52.5 million, primarily in ACADIA
stock. The transaction closed on August 24, 2020. CerSci
shareholders may also receive up to $887 million in development,
commercialization, and sales milestones in addition to tiered
royalties in the mid-single digits based on annual net sales.
BofA Securities is serving as financial advisor and Paul
Hastings, LLP is serving as legal advisor to ACADIA. Evercore is
serving as financial advisor and Skadden, Arps, Slate, Meagher
& Flom LLP is serving as legal advisor to CerSci. CerSci’s
major investors include JDH Investment Management, LLC, Hiawatha
Education Foundation, Lennox Capital Partners, LP and West Summit
Investments, LP.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development
and commercialization of innovative medicines to address unmet
medical needs in central nervous system disorders. ACADIA has
developed and commercialized the first and only medicine approved
for the treatment of hallucinations and delusions associated with
Parkinson’s disease psychosis. ACADIA’s development efforts are
focused on pimavanserin for additional neuropsychiatric conditions,
trofinetide for Rett syndrome, ACP-044 for pain management and an
early-stage muscarinic receptor program. ACADIA submitted a
supplemental new drug application (sNDA) for pimavanserin for the
treatment of hallucinations and delusions associated with
dementia-related psychosis on June 3, 2020. The FDA has accepted
for filing the sNDA for DRP with a PDUFA date of April 3, 2021.
Pimavanserin is not approved for dementia-related psychosis. This
press release and further information about ACADIA can be found at:
www.acadia-pharm.com.
Forward-Looking Statements
Statements in this press release that are not strictly
historical in nature are forward-looking statements. These
statements include but are not limited to statements regarding the
discovery, development and commercialization of any compounds from
the above described acquisition, the clinical potential of and
therapeutic opportunity for products based on such compounds and
other statements that are not historical facts. 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 inherent in drug development, approval and
commercialization, and the fact that past results of clinical
trials may not be indicative of future trial 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, 2019 as
well as ACADIA’s 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200825005405/en/
Media Contact: ACADIA Pharmaceuticals Inc. Eric Endicott (858)
914-7161 media@acadia-pharm.com
Investor Contact: ACADIA Pharmaceuticals Inc. Mark Johnson, CFA
(858) 261-2771 ir@acadia-pharm.com
Acadia Pharmaceuticals (NASDAQ:ACAD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Acadia Pharmaceuticals (NASDAQ:ACAD)
Historical Stock Chart
From Apr 2023 to Apr 2024