05:08 PM EST, 11/26/2024 (MT Newswires) -- Acadia Pharmaceuticals ( ACAD ) said Tuesday it will pay Saniona $28 million as part of an exclusive worldwide license agreement for the development and commercialization of SAN711 to treat rare neuropathic disorders and absence seizures.

Under the agreement, Acadia will also pay Saniona up to $582 million in milestone payments as well as tiered royalties.

Acadia said it will lead the development, regulatory and commercialization efforts of SAN711 and provide support for additional studies.

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