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news.Acadia Pharmaceuticals and Meiji Seika Kaisha have formed a strategic alliance to develop and commercialize a class of pro-cognitive drugs to treat patients with schizophrenia and related disorders. The collaboration will focus on developing a product candidate, which was discovered by ACADIA and has been nominated by the parties for IND-track development.
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Under the terms of the agreement, Meiji Seika will have exclusive rights to develop and commercialize the product in Japan and several other Asian countries. ACADIA retains the right to develop and commercialize the product in the rest of the world, including the US and Europe.
Acadia will receive up to $25 million in aggregate payments, including upfront fees, and development and regulatory milestone payments, as well as royalties on product sales in the Asian territory, if the product is commercialized successfully, from Meiji Seika. Meiji Seika will be responsible for initial development expenses up to a specified level and the companies will share the remaining expenses through clinical proof-of-concept.
Uli Hacksell, CEO of Acadia, said: “We are delighted to establish this innovative partnership with Meiji Seika.
“with its strong development and commercial capabilities and focus on CNS disorders, we believe Meiji Seika is an excellent partner to help advance the development of this exciting program and to commercialize in Japan and other Asian markets,” he added.