Acadia Pharmaceuticals Sells Rare Pediatric Disease Priority Review Voucher for $150 Million

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD), based in San Diego, has announced a definitive agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for $150 million upon the transaction's closing. The PRV was awarded to Acadia in March 2023 following the U.S. Food and Drug Administration's (FDA) approval of DAYBUE™ (trofinetide) for treating Rett syndrome. Originally licensed from Neuren Pharmaceuticals Limited in August 2018, Acadia is obligated to pay Neuren one-third of the net proceeds due to the existing license agreement.

The company intends to utilize the proceeds from the PRV sale to bolster its commercial operations, invest in research and development programs targeting central nervous system and rare diseases, and explore future business development opportunities. Completion of the transaction depends on standard closing conditions, including the expiration of the waiting period under the Hart-Scott Rodino (HSR) Antitrust Improvements Act. Jefferies LLC served as Acadia's financial advisor for this transaction.

Acadia Pharmaceuticals is dedicated to advancing neuroscience breakthroughs to improve lives. Since its inception, the company has focused on providing essential solutions for those in need. Acadia has developed and commercialized the first and only FDA-approved medication for treating hallucinations and delusions associated with Parkinson’s disease psychosis, as well as the only approved drug in the U.S. and Canada for Rett syndrome treatment. The company’s clinical-stage development efforts include addressing conditions such as Prader-Willi syndrome, Alzheimer’s disease psychosis, and other neuropsychiatric symptoms related to central nervous system disorders.