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http://www.genengnews.com/gen-news-h...pact/81244139/

The Valeant Pharmaceuticals subsidiary Biovail Laboratories is paying Acadia $8.7 million as part of a deal through which the latter will regain all rights to its Phase III-stage CNS candidate, pimavanserin. Biovail and Acadia had previously been collaborating on development of the 5-HT2A receptor blocker in the U.S. and Canada, primarily for the treatment of Parkinson disease psychosis (PDP). However, following the recent merger of Biovail with Valeant, neither the drug nor the broad development strategy underpinning the pimavanserin collaboration fit in with the combined company’s strategic focus, Acadia states. The $8.75 million pay-off received by Acadia to end the collaboration will cover costs associated with ongoing clinical trials of pimavanserin.....

......Acadia’s preclinical program includes AM-831, a small molecule product candidate for the treatment of schizophrenia and related disorders, which was discovered and is being developed in collaboration with Meiji Seika Kaisha. Currently in development prior to IND filing, AM-831 was selected from a series of compounds that could represent a new class of procognitive antipsychotic drugs, the firm claims. The compounds combine muscarinic m1 agonist with activity on both dopamine and serotonin receptors.

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FRom Fierce Biotech

Acadia, Biovail end Parkinson's drug deal By Maureen Martino"Acadia pharmaceuticals and Biovail, a subsidiary of Valeant Pharmaceuticals, said this morning that they have ended the collaboration agreement on pimavanserin, a drug for Parkinson's. Last year the two companies inked a $395 million development and commercialization deal for the drug, which was in late-stage trials. But five month later a Phase III trial of the drug flopped due to an unexpectedly high placebo effect, triggering a meltdown in Acadia's share price"

http://www.fiercebiotech.com/press-r...ource=internal