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Amarin Corporation and Acadia Pharmaceuticals Sign Pharmaceutical Development Agreement
LONDON, Jun 18, 2003 /PRNewswire-FirstCall via COMTEX/ -- Amarin Corporation
plc (Nasdaq: AMRN) today confirmed that its Swedish subsidiary, Amarin
Development AB, has been engaged to provide pharmaceutical formulation and
manufacturing services for ACADIA Pharmaceuticals, based in San Diego,
California and Copenhagen, Denmark. The deal centers on the continued
development of ACADIA's small molecule drug candidate ACP-103, currently in
Phase I clinical studies. ACADIA intends to utilize Amarin's services in
connection with additional clinical studies planned for ACP-103 for the
treatment of neuropsychiatric and neurological disorders.
Rick Stewart, CEO of Amarin, commented on the successful deal, "The selection of
Amarin Development by ACADIA to provide these services underscores our
strengthened position as a global product development company. This agreement
additionally makes use of Amarin's expertise in neurology and complements the
research and development activities of Amarin Pharmaceuticals Inc. in the US,
making this a particularly attractive signing."
About ACP-103
ACP-103 is initially being pursued as a therapy for treatment-induced
dysfunctions in Parkinson's disease, an indication that lacks adequate drug
therapy. Due to its unique profile, ACP-103 may also have broad utility in a
range of other important indications. ACP-103 is a proprietary small molecule
that acts as a selective inverse agonist at the 5-HT2A receptor.
About Amarin
Amarin Corporation plc is a specialty pharmaceutical company focused on
neurology and pain management. Amarin has multiple pharmaceutical products on
the US market along with a development pipeline that includes two late-stage
candidates: Zelapar (selegiline HCl orally disintegrating tablets) for
Parkinson's disease and LAX-101, a proprietary compound for Huntington's
Disease. For press releases and other Company information, visit our websites at
www.amarincorp.com and www.amarinpharma.com.
About ACADIA
ACADIA Pharmaceuticals is a drug discovery and development company that
efficiently discovers novel small molecule drug candidates using its proprietary
chemical-genomics platform. ACADIA has applied its platform to generate a broad
discovery pipeline directed at large unmet medical needs including Parkinson's
disease, chronic pain, psychosis, and glaucoma. Two of ACADIA's drug candidates
have been successfully advanced from initial discovery to clinical development,
and several additional programs are in late-stage preclinical testing. ACADIA's
corporate headquarters as well as its biological research facilities are located
in San Diego, California and its chemistry research facilities are located in
Copenhagen, Denmark.
Statements in this press release that are not historical facts are
forward-looking statements that involve risks and uncertainties which may cause
the Company's actual results in future periods to be materially different from
any performance suggested herein. Such risks and uncertainties include, without
limitation, risks associated with the inherent uncertainty of pharmaceutical
research, product development and commercialization, the impact of competitive
products and patents, as well as other risks and uncertainties detailed from
time to time in periodic report, including but not limited to the filing or
approval of the NDA for Zelapar. For more information, please refer to Amarin
Corporation's Annual Report for 2002 on Form 20-F and its Form 6-Ks as filed
with the U.S. Securities and Exchange Commission. The Company assumes no
obligation to update information on its expectations.
SOURCE Amarin Corporation plc