Acadia Pharmaceuticals gets cash boost from Coastview Capital  

2003.06.16
Gordon Binder joins the board as Acadia gets a DKK 10 million boost for drug development work

Danish-American biotech company Acadia Pharmaceuticals has received DKK 10 million (USD 1.6 million) from the US investment company Coastview Capital. The investment will be used for the clinical development of new drugs; Acadia has now succeeded in raising a total of DKK 180 million (USD 28.6 million) in recent months. In connection with the fresh capital injection, Coastview Capital's founder Gordon Binder is joining Acadia’s board of directors.

 

Gordon Binder was CEO of Amgen, the world’s largest biotech company, from 1998 to 2000. He is also a member of the board of directors at Massachusetts Institute of Technology (MIT) and California Institute of Technology (Caltech). Acadia Pharmaceuticals is headquartered in San Diego, California and has its chemistry research facilities in Copenhagen. It is a drug discovery and development company which discovers small molecule drug candidates using its proprietary chemistry-genomics platform. The company concentrates on developing drugs for diseases such as psychosis, dementia, chronic pain and glaucoma. The news is reported by biotechdenmark.dk

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