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news.Acadia Pharmaceuticals has extended its drug discovery and development pact with Allergan, under which both the parties will work for the discovery of new therapeutics for glaucoma and other ophthalmic indications.
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The research agreement, which was previously signed in March 2003, has been extended for another year.
Accordingly, the term of the agreement will end in March 2012.
As per the terms of the agreement, Allergan is entitled to exclusively license specified chemistry and related assets for development and commercialization.
Additionally, Allergan is responsible to pay research funding and license fees and milestone payments to Acadia Pharma upon the successful achievement of agreed-upon clinical and regulatory objectives as well as royalties on future product sales worldwide.
Acadia Pharma CEO Uli Hacksell said this productive alliance has led to several interesting discoveries, which they hope to be able to translate into potential new therapies for glaucoma and related ophthalmic conditions.