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Acadia Pharmaceuticals Inc (NASDAQ:ACAD) and Stoke Therapeutics Inc (NASDAQ:STOK) will team up on the treatments in rare genetic neurodevelopmental diseases of the CNS.
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- The recently discovered SYNGAP1 syndrome will be first, followed by Rett syndrome (MECP2) and an undisclosed target the biotechs say is of mutual interest.
- “Combining Stoke’s capabilities with Acadia’s extensive expertise in neuroscience drug development and commercialization enables us to push harder and faster in exploring some of the new frontiers in rare central nervous system disorders,” Acadia CEO Steve Davis.
- Stoke will net a $60 million upfront payment from Acadia to kick things off and is eligible to receive up to $907 million in milestones.
- The companies will split R&D costs and profits evenly for the SYNGAP1 candidate.
- Stoke will lead preclinical development for the other two programs — efforts that will be “fully funded” by Acadia — after which Acadia will head up clinical studies and commercialization.
- Price Action: ACAD shares are down 2.61% at $22 premarket on the last check Monday, and STOK closed at $21.21 on Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.