On August 17, 2015, our Swiss subsidiary, ACADIA Pharmaceuticals GmbH, entered into a co-operation agreement and product schedule, collectively referred to as the manufacturing agreement, with BASF Pharma (Evionnaz) SA, or BASF. Under the manufacturing agreement, BASF has agreed to manufacture and supply pimavanserin tartrate, the active pharmaceutical ingredient of NUPLAZIDâ„¢ (pimavanserin), for our commercial use.

The term of the manufacturing agreement extends through December 31, 2020 and will automatically renew for subsequent one year terms unless either party provides timely notice of its intent not to renew, or unless the manufacturing agreement is terminated earlier pursuant to its terms.

Either party may terminate the manufacturing agreement prior to expiration upon the uncured material breach by the other party or upon the dissolution or liquidation of the other party or if the other party makes an assignment for the benefit of its creditors. Additionally, ACADIA may terminate the manufacturing agreement in the event of a continuing force majeure event affecting BASF or if we cease development, marketing and sales of NUPLAZID. ACADIA also may terminate the manufacturing agreement for any reason on three months' prior notice to BASF.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the manufacturing agreement, which will be attached as an exhibit to a subsequent filing with the Securities and Exchange Commission.