Acadia Raises $15M

Xconomy San Diego — 

Silicon Valley’s New Enterprise Associates and Venrock are among the institutional investors participating in a private placement with Acadia Pharmaceuticals (NASDAQ: ACAD), a San Diego biotech focused on central nervous system disorders. Acadia says it is selling nearly 12.6 million shares for slightly more than $1.19 a share in a transaction that’s expected to generate gross proceeds of $15 million. The deal, which is scheduled to close Wednesday, will provide funding for late-stage trials of pimavanserin, Acadia’s Parkinson’s drug, and extend Acadia’s available cash into 2013.

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