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ACP-104

Acadia Pharmaceuticals, Inc.

Drug Names(s): N-desmethylclozapine, norclozapine

Description: ACP-104 is the major metabolite of clozapine (Clozaril). It combines M1 muscarinic agonism, 5-HT2A inverse agonism, and D2 and D3 dopamine partial agonism.

Deal Structure: In May 2004, Acadia entered into a development agreement with The Stanley Medical Research Institute, or SMRI, a leading nonprofit organization that supports research on the treatment of schizophrenia. The development term is for three years and may be extended for additional consecutive one-year periods by written agreement of the parties. Under this agreement, Acadia is entitled to receive up to $5 million in funding to support the further development of ACP-104. Assuming the successful development and commercialization of ACP-104, Acadia is required to pay to SMRI royalties on product sales of ACP-104 up to a specified level. In connection with this agreement, Acadia issued a $1 million convertible promissory note to SMRI.


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