ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On December 15, 2016, our Swiss subsidiary, ACADIA Pharmaceuticals GmbH, or ACADIA GmbH, entered into a master services agreement and related attachments, collectively referred to as the manufacturing agreement, with Siegfried AG, or Siegfried. The manufacturing agreement replaces that certain co-operation agreement and product schedule, dated August 17, 2015, between ACADIA GmbH and Siegfried Evionnaz SA (previously BASF Pharma (Evionnaz) SA). Under the manufacturing agreement, Siegfried has agreed to manufacture and supply pimavanserin tartrate, the active pharmaceutical ingredient of NUPLAZID (pimavanserin), for commercial use, and ACADIA GmbH has agreed to purchase from Siegfried specified percentages of our commercial requirements of pimavanserin tartrate for the United States and Europe. The parties may also agree in the future on additional services under the manufacturing agreement with respect to non-commercial supply or development services. The term of the manufacturing agreement extends for five years and will automatically renew for subsequent two-year terms unless either party provides timely notice of its intent not to renew, or unless the manufacturing agreement is terminated earlier to its terms. Either party may terminate the manufacturing agreement prior to expiration upon an uncured material breach by the other party, upon the dissolution or liquidation of the other party, the commencement of insolvency procedures that are not dismissed within a certain period of time, the appointment of any receiver, trustee or assignee to take possession of the properties of the other party or the cessation of all or substantially all of the other party’s business operations, upon certain continuing patent infringement, regulatory litigation or other legal proceedings involving the manufacture of pimavanserin tartrate, upon a continuing force majeure affecting the other party, or if no services are currently being provided under the manufacturing agreement. Additionally, if the parties agree on development services under the manufacturing agreement, the parties may terminate such services by mutual agreement if reasonable efforts to achieve the goals of such services fail. ACADIA GmbH also may terminate any services under the manufacturing agreement for any reason on 90 days’ prior notice to Siegfried, subject to the requirements of the manufacturing agreement. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the manufacturing agreement, which will be attached as an exhibit to a subsequent filing with the Securities and Exchange Commission.
ACADIA Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP). NUPLAZID is a selective serotonin inverse agonist (SSIA), targeting 5-HT2A receptors. The Company’s Pimavanserin is a chemical entity, which has completed Phase III development, and is indicated for the treatment of Parkinson’s disease psychosis. NUPLAZID (pimavanserin) is a selective serotonin inverse agonist preferentially targeting the 5-HT2A receptor, a key serotonin receptor that plays a role in psychosis. Through this mechanism, NUPLAZID has demonstrated efficacy in Parkinson’s disease psychosis in its Phase III pivotal trial and avoids the side effects of existing antipsychotics. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Recent Trading Information
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) closed its last trading session down -0.55 at 25.43 with 1,144,990 shares trading hands.