Axcelead Drug Discovery Partners Enters Into Master Service Agreement For Drug Discovery Projects With Acadia Pharmaceuticals To Support Their Goal Of Discovering And Developing Innovative And Novel Medicines To Help Address Unmet Medical Needs; No Financial Terms Disclosed

Axcelead DDP has already been engaged in multiple drug discovery projects in the neuroscience area to identify candidate compounds since October 2022. Acadia and Axcelead DDP have entered into the Master Service Agreement so that Axcelead DDP can more efficiently and comprehensively support certain new drug discovery projects of Acadia. Axcelead DDP will provide drug discovery support to Acadia by leveraging its integrated drug discovery platform, deep knowledge and extensive experience in drug discovery research to potentially generate high-quality candidate compounds.

A new drug discovery project under the executed MSA has been launched at the same time. Axcelead DDP will receive an upfront fee, research funding and milestone fees as in the previous projects. Details of the financial terms regarding the Master Service Agreement and the new project are not disclosed.