As part of the deal, Acadia has purchased all of the outstanding shares of CerSci for $52.5m in the form of its stock.
CerSci shareholders are also eligible to secure up to $887m in development, commercialisation, and sales milestones, as well as tiered royalties in the mid-single digits based on annual net sales.
CerSci Therapeutics holds worldwide rights to a portfolio of novel compounds for neurological conditions, including non-opioid therapies for acute and chronic pain.
The portfolio is composed of additional preclinical stage molecules, including brain penetrant molecules, with potential for symptomatic and disease-modifying treatment application in neurodegenerative diseases.
CerSci CEO and co-founder Lucas Rodriguez said: “I am highly confident that Acadia, with its proven development and commercialization capabilities, can advance CerSci’s program and ultimately deliver a new generation of medicines to treat acute postoperative as well as chronic pain conditions.”
The acquisition of CerSci will allow Acadia to expand its clinical pipeline with the addition of non-opioid pain therapies that have potential non-addictive properties and reduced side effects.
ACP-044, CerSci’s lead molecule, has demonstrated significant efficacy and safety results in animal models assessing incisional, inflammatory and neuropathic pain, as well as favourable tolerability and pharmacokinetic properties in phase 1 trials, said the company.
The novel RSDAx mechanism of action is believed to intrude with multiple pain pathways to treat pain simultaneously. Acadia is planning to begin a phase 2 clinical trial in the first half of 2021.
Acadia Pharmaceuticals CEO Steve Davis said: “We are excited by the potential clinical utility of this program across multiple pain modalities due to its novel non-opioid mechanism of action. By acquiring CerSci, Acadia is further strengthening our development pipeline for long-term growth in central nervous system disorders.”
BofA Securities is acting as a financial advisor, while Paul Hastings is serving as legal advisor to Acadia. Evercore is acting as a financial advisor, while Skadden, Arps, Slate, Meagher & Flom is serving as legal advisor to CerSci.
In August 2018, Acadia Pharmaceuticals and Neuren Pharmaceuticals have signed an exclusive North American licence agreement for the development and commercialisation of trofinetide for Rett syndrome and other indications.