Acadia Pharmaceuticals
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Sorrento Valley, San Diego, California.[3]
Formerly | Receptor Technologies |
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Public | |
Traded as |
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Industry | Biopharmaceutical, Healthcare |
Founded | 1993 |
Headquarters | San Diego, CA, U.S. |
Key people |
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Products | Pimavanserin |
Revenue | |
Total assets | |
Number of employees | 530 |
Website | acadia-pharm |
Product development
Nuplazid, a drug developed by Acadia in the late 1990's, "was designed to stimulate a subset of the brain’s serotonin receptors, or the proteins that govern memory, cognition and learning."[4] On April 29, 2016, the FDA approved Acadia's drug, Nuplazid, for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.[5] 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.[1][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, Acadia was among several companies that licensed compounds from Genzyme's small-molecule compound library.[12]
History
Acadia started in 1993 as Receptor Technologies, based in Winooski, Vermont.[2] 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.[2] However, the company also had an office in Denmark, and the country was an important early source of investment.[2] At the time, the company had fifty employees, fourteen of whom were in the Denmark office.[2] The focus of the company in its early years was on genetic screens for receptors, aiming to accelerate early stage drug discovery.[2]
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.[13] 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.[13] 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.[14] At the time, the company had five drugs in development and was running two in human trials.[15] The company had a subsequent round of stock offering in May 2007 which raised US$102 million.[16]
Corporate governance
In 2001, the company's chief executive officer at the time, Leonard R. Borrmann, left Acadia to lead Maret Pharmaceuticals.[17] He was succeeded by Uli Hacksell, who left Acadia to lead Cerecor at the beginning of 2016.[18] In April 2019, Acadia announced the promotion of Elena Ridloff, CFA to Executive Vice President, Chief Financial Officer.[19]
References
- "Market Movers". The Record. 115 (335). Hackensack, New Jersey: North Jersey Media Group. May 5, 2009. p. B-8 – via Newspapers.com.
- Fikes, Bradley J. (August 20, 1997). "Biotech with Danish ties settles on San Diego". North County Times. p. D1 – via Newspapers.com.
"Biotech", continuation of article, p. D2. - Singer, Stacey (November 26, 2005). "Jupiter's Abacoa site in the mix". The Palm Beach Post. 36 (19) (Final ed.). West Palm Beach, Florida: Cox. p. 4A – via Newspapers.com.
- Boyd, Roddy (2018-07-09). "Acadia Pharmaceuticals: This Is Not a Pharmaceutical Company". The Foundation for Financial Journalism. Retrieved 2020-06-29.
- "FDA Press Release,". April 29, 2016.
- "Acadia, Biovail plan more study on Parkinson's drug". The Ottawa Citizen. Ottawa, Ontario: Canwest. October 7, 2009. p. D3 – via Newspapers.com.
- "Market Movers". The Record. 115 (90). Hackensack, New Jersey: New Jersey Media Group. September 2, 2009. p. L-8 – via Newspapers.com.
- "Acadia Is Starting Phase 3 Trial of Nuplazid for Dementia-related Psychosis".
- "ACADIA Pharmaceuticals Initiates Phase III Trial of Pimavanserin for Adjunctive Treatment in Patients with Schizophrenia".
- "ACADIA Pharmaceuticals Initiates Phase III Trial of Pimavanserin for Adjunctive Treatment in Patients with Schizophrenia".
- "ACADIA Pharmaceuticals Initiates Phase II Trial of Pimavanserin for Adjunctive Treatment in Patients With Negative Symptoms of Schizophrenia".
- Rosenberg, Ronald (December 19, 1997). "Bayer AG buys access to Genzyme library". The Boston Globe. 252 (172). p. C7 – via Newspapers.com.
- "Drug Developer Acadia Pharmaceuticals Files for IPO". Los Angeles Times. CXX (65). Tribune Publishing Company. Bloomberg. February 6, 2001. p. C3. Retrieved 7 Dec 2019 – via Newspapers.com.
- Krasner, Jeffrey (August 16, 2004). "As money-raisers, this year's biotech IPOs falling short". The Boston Globe. 266 (47). Boston, Massachusetts. p. C4 – via Newspapers.com.
- Krasner, Jeffrey (August 23, 2004). "A disappointing year for biotech IPOs". Austin American-Statesman. 134 (26) (Final ed.). Austin, Texas: Cox. Boston Globe. p. D2 – via Newspapers.com.
- "Equity > Additional Equity > Piper Jaffrey & Co". Quarterly Deal Report, 2nd Quarter, 2007. Star Tribune. XXVI (110). Minneapolis-St. Paul, Minnesota. July 23, 2007. p. D7 – via Newspapers.com.
- "New Chief at Maret Pharmaceuticals". Orange County Newsmakers. Los Angeles Times. CXX (86) (National ed.). Tribune Publishing Company. February 27, 2001. p. C4 – via Newspapers.com.
- "Cerecor's shares surge 25% after the CEO is replaced". The Baltimore Sun. 178 (357). Baltimore, Maryland: Tribune Publishing Company. December 23, 2015. p. 10 – via Newspapers.com.
- "ACADIA Pharmaceuticals Announces Promotion of Elena Ridloff, CFA to Executive Vice President, Chief Financial Officer". www.bloomberg.com. Retrieved 2020-04-03.