ACADIA Pharmaceuticals Announces USD 36 Million Financing
ACADIA Pharmaceuticals Inc. (based in San Diego, USA and Glostrup, Denmark), a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders, recently announced that it has entered into a definitive purchase agreement for a USD 36 million private placement of newly issued shares of common stock and the concurrent issuance of warrants for the purchase of additional shares of common stock. The financing is expected to close on 20 April 2005.
"We are gratified by the support and confidence our new and existing investors have expressed in ACADIA's pipeline of drug candidates and our business prospects with this financing," said Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA. "This financing significantly strengthens our financial position and enables us to continue to advance our three proprietary Phase II clinical programs while further broadening our pipeline of drug candidates."