Astellas Pharma Inc announced that Astellas has terminated the license agreement with Neurosearch Sweden AB, a subsidiary of Neurosearch A/S regarding the novel dopaminergic agent ASP2314/ACR-16 (development code), which Astellas in-licensed from Neurosearch and conducted phase-I clinical trials.

ASP2314/ACR-16 represents a novel class for the treatment of schizophrenia and other CNS disorders. In 2005, Astellas obtained rights from Carlsson Research AB (current Neurosearch) to develop, manufacture and market the product worldwide for all indications except Huntington's disease, and has engaged in development of ASP2314/ACR-16 for the treatment of schizophrenia.

Astellas has decided to withdraw from further development of ASP2314/ACR-16 due to strategic considerations with respect to the development for the treatment of schizophrenia. Thus, Astellas has terminated the license agreement with Neurosearch and returned all the rights regarding the development, manufacturing and marketing of ASP2314/ACR-16 worldwide.