By Sabela Ojea
Acadia Pharmaceuticals said it is selling its rare pediatric disease priority review voucher for $150 million.
The biotechnology company on Tuesday said it plans to invest the proceeds from the sale toward research and development programs in central nervous system and rare diseases.
The company didn't reveal the name of the buyer.
Acadia Pharmaceuticals said the definitive asset purchase agreement came after it was granted the priority review voucher in March 2023 following the Food and Drug Administration approval of Daybue for the treatment of Rett syndrome.
Daybue was initially licensed by Acadia from Neuren Pharmaceuticals Limited in August 2018, so Acadia is required to pay Neuren one-third of the net proceeds, it said.
Rett syndrome is a genetic disorder that affects the nervous system.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
November 05, 2024 17:19 ET (22:19 GMT)
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