By Stephen Nakrosis
Acadia Pharmaceuticals on Tuesday said it entered into an exclusive worldwide license agreement with Saniona to develop and commercialize SAN711.
Acadia said it initially plans to develop SAN711 for essential tremor, a neurological condition that includes shaking or trembling in the body. The company said it plans to initiate a Phase 2 study of SAN711 in essential tremor in 2026.
Under the terms of the, Saniona would receive an upfront payment of $28 million, with potential milestone payments of up to $582 million. Saniona is eligible to receive tiered royalties of up to $435 million, Acadia said.
Catherine Owen Adams, Acadia's chief executive officer, said essential tremor is a condition that has not seen innovation in treatment for decades.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 26, 2024 18:07 ET (23:07 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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