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]
In 2023, the FDA approved trofinetide (marketed as Daybue) for use in Rett syndrome.[13]
History
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]
^Singer, Stacey (November 26, 2005). "Jupiter's Abacoa site in the mix". The Palm Beach Post. Vol. 36, no. 19 (Final ed.). West Palm Beach, Florida: Cox. p. 4A – via Newspapers.com.
^Krasner, Jeffrey (August 23, 2004). "A disappointing year for biotech IPOs". Austin American-Statesman. Vol. 134, no. 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. Vol. XXVI, no. 110. Minneapolis-St. Paul, Minnesota. July 23, 2007. p. D7 – via Newspapers.com.
^"New Chief at Maret Pharmaceuticals". Orange County Newsmakers. Los Angeles Times. Vol. CXX, no. 86 (National ed.). February 27, 2001. p. C4 – via Newspapers.com.
