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Biotech / Medical : ACADIA Pharmaceuticals Inc (ACAD)

ACAD 25.04

+0.9%

Nov 28 9:30 AM EST

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From: tuck	7/16/2007 9:52:36 AM
	of 588

>>ACADIA Pharmaceuticals Earns Milestone on Advancement of Glaucoma Drug Candidate Monday July 16, 9:00 am ET SAN DIEGO--(BUSINESS WIRE)--ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD - News), a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders, today announced that Allergan, Inc. will initiate an exploratory clinical study with a small molecule drug candidate for the treatment of glaucoma, which triggered a milestone payment to ACADIA. The selective muscarinic compound emanates from a discovery made at ACADIA and is being developed pursuant to the companies' collaboration focused on novel treatments for glaucoma. "The advancement of our glaucoma program further exemplifies the longstanding and highly productive alliance that we have with Allergan," said Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA. "This program benefits greatly from Allergan's extensive expertise and leadership in the eye care field, and illustrates the combined strength of ACADIA's and Allergan's discovery and development capabilities." Allergan is responsible for development and has worldwide rights to commercialize products resulting from the companies' collaboration for the treatment of ocular disease. ACADIA is entitled to receive milestone payments and royalties on products successfully developed and commercialized under this collaboration.<< snip Cheers, Tuck

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