Acadia Pharma, Japanese Firm, Strike Deal

Ryan McBride3/25/09

Acadia Pharmaceutical has struck a collaboration deal with Tokyo-based firm Meiji Seika Kaisha to develop treatments for schizophrenia and separate neurological disorders for the Japanese market and other parts of Asia, according to a press release. San Diego-based Acadia (NASDAQ:ACAD), which has discovered a product candidate related to the deal, says it could receive up to $25 million in upfront and milestone payments from Meiji Seika Kaisha as well as royalties on potential sales. See Luke’s San Diego Biotech Survival Index, which shows that Acadia finished 2008 with $60.1 million in the bank.