Acadia Pharmaceuticals
Pharmaceutical company, which developed Nuplazid, based in San Diego, California. From Wikipedia, the free encyclopedia
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Sorrento Valley, San Diego, California.[2]
 | |
| Formerly | Receptor Technologies |
|---|---|
| Company type | Public |
| |
| Industry | |
| Founded | 1993 |
| Headquarters | San Diego, California, U.S. |
Key people | Stephen R. Davis (CEO) |
| Products | Pimavanserin |
| Revenue | US$339.08 million (2019) |
| US$−246.55 million (2019) | |
| US$−235.26 million (2019) | |
| Total assets | US$783.18 million (2019) |
| Total equity | US$699.14 million (2019) |
Number of employees | 570 (June 30, 2020) |
| Website | acadia |
| Footnotes / references [1] | |
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]
As of 1997[update], 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
Summarize
Perspective
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.[14] However, the company also had an office in Denmark, in which it received a crucial part of its early investments[14][15] from BankInvest,[15] under managing director Florian Schönharting,[16][17][18] Kommunernes Pensionsforsikring A/S[15] and Dansk Kapitalanlæg Aktieselskab[15] as well as private investor Lars Christiansen.[19][15] At the time, the company had fifty employees, fourteen of whom were in the Denmark office.[14] The focus of the company in its early years was on genetic screens for receptors, aiming to accelerate early stage drug discovery.[14]
The company planned to conduct an Initial public offering (IPO) consisting of 31.6% of the company in 2001, with the intention of raising US$64 million and listing on the NASDAQ exchange under the symbol ACAD.[20] 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.[20] However, the company's IPO, which ultimately took place in May 2004,[7] did not fare as well as expected and netted only US$35 million.[21] At the time, the company had five drugs in development and was running two in human trials.[22] The company had a subsequent round of stock offering in May 2007 which raised US$102 million.[23]
In September 2020, Acadia Pharmaceuticals acquired clinical-stage biotechnology company CerSci Therapeutics.[24]
Corporate governance
In 2001, the company's chief executive officer at the time, Leonard R. Borrmann, left Acadia to lead Maret Pharmaceuticals.[25] He was succeeded by Uli Hacksell, who left Acadia to lead Cerecor at the beginning of 2016.[26]
References
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