Acadia Pharmaceuticals has finalized an agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for $150 million. The sale is expected to close after fulfilling standard closing conditions, including the waiting period mandated by the Hart-Scott Rodino (HSR) Antitrust Improvements Act. Acadia received this PRV in March 2023 following FDA approval of DAYBUE™ (trofinetide) for Rett syndrome treatment. DAYBUE, initially licensed from Neuren Pharmaceuticals Limited in August 2018, carries a contractual obligation for Acadia to remit one-third of the net proceeds to Neuren.
Acadia intends to allocate the PRV sale proceeds to bolster various aspects of its operations. This includes supporting commercial activities, advancing research and development programs focused on the central nervous system and rare diseases, and pursuing future business development opportunities. Jefferies LLC served as Acadia’s financial advisor for this transaction.
Acadia Pharmaceuticals is a biopharmaceutical company dedicated to developing and commercializing innovative treatments for neurological disorders. The company is committed to delivering crucial therapies to those with significant unmet medical needs. They highlight their achievement of developing and commercializing the first and only FDA-approved treatment for hallucinations and delusions associated with Parkinson’s disease psychosis. Additionally, they developed the first and only approved treatment for Rett syndrome in both the United States and Canada. Acadia’s current clinical development efforts are concentrated on Prader-Willi syndrome, Alzheimer’s disease psychosis, and other programs targeting neuropsychiatric symptoms in central nervous system disorders.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
