Acadia Pharmaceuticals

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]

As of 1997, Acadia was among several companies that licensed compounds from Genzyme's small-molecule compound library.[12]

Acadia started in 1993 as Receptor Technologies, based in Winooski, Vermont.[13] 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.[13] However, the company also had an office in Denmark, in which it received a crucial part of its early investments[13][14] from BankInvest,[14] under managing director Florian Schönharting,[15][16][17] Kommunernes Pensionsforsikring A/S[14] and Dansk Kapitalanlæg Aktieselskab[14] as well as private investor Lars Christiansen.[18][14] At the time, the company had fifty employees, fourteen of whom were in the Denmark office.[13] The focus of the company in its early years was on genetic screens for receptors, aiming to accelerate early stage drug discovery.[13]

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.[19] 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.[19] 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 .[20] At the time, the company had five drugs in development and was running two in human trials.[21] The company had a subsequent round of stock offering in May 2007 which raised US$102 million .[22]

In September 2020, Acadia Pharmaceuticals acquired clinical-stage biotechnology company CerSci Therapeutics.[23]