Adamed has concluded an exclusive global licence agreement for the development of an innovative molecule
Adamed has concluded an exclusive global licence agreement with Acadia Pharmaceuticals Inc., a US based company focused on developing breakthroughs in neuroscience to elevate life, for further development of a novel molecule which has been synthesized in Adamed laboratories for the potential treatment of psychiatric disorders. The invention, which is covered by several patent applications filed by Adamed, was created by Polish researchers, and the intellectual property rights generated so far in the course of development of the molecule will remain in Poland, subject to Acadia’s rights under the agreement. Adamed will retain exclusive rights to the drug on the Polish market, and the possibility of marketing it in Poland and other parts of Europe.
This technology was enabled by Adamed’s long-term collaboration with the Jagiellonian University Medical College and the Institute of Psychiatry and Neurology in Warsaw. As part of Adamed's neuropsychiatric research platform, a team of experts has brought the novel molecule close to an advanced stage of preclinical development with the potential for treatment of psychiatric disorders.
Getting to the current stage of development should be seen as an achievement of Polish scientific thought and testimony to the successful cooperation between science and business in Poland – says Małgorzata Adamkiewicz, MD, PhD, co-owner and the Chairman of the Supervisory Board of Adamed Pharma S.A.. – The intellectual property rights generated so far in the course of development of the new molecule will remain in Poland, subject to Acadia’s rights under the agreement, and in collaboration with Acadia experts we are going to consistently strengthen our competencies and build up expertise to enhance the innovativeness of Polish medicine and economy. There remains a significant unmet need of treating certain psychiatric disorders in Poland.
Through its funding, Adamed has brought the molecule close to an advanced stage of preclinical development. Acadia shall endeavor to complete the preclinical evaluation and take the molecule all the way through clinical development up to regulatory approval. Under the licence agreement, Adamed will receive an up-front fee and further milestone payments, which combined could equal up to a total of ca. USD 122 million, and will also be entitled to tiered royalty on net sales. The initial income will be contributed to the expansion of Adamed's Production and Logistics Centre in Pabianice (the cost of the project is expected to exceed PLN 300 million over the next 5 years). Future proceeds will be allocated to funding of Adamed’s research and development projects.