ADDEX THERAPEUTICS L

ADXN
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1.59CHF -2.45%

Press Release: Addex Increases Issued Share Capital to Create Treasury Shares

04/26/2021 | 01:00am
   Geneva, Switzerland, April 26, 2021 - Addex Therapeutics 
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Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical 
company pioneering allosteric modulation-based drug discovery and 
development, today announced that it has increased its share capital 
from 39,748,635 to 49,272,952 through the issue of 9,524,317 new 
registered shares at a nominal value of CHF1 each to Addex Pharma S.A, 
its 100% wholly-owned subsidiary. The new shares, issued from the 
Company's authorized capital, are listed on the SIX Swiss Exchange. The 
transaction has been executed to provide the Group with additional 
future financing flexibility. 
 
   "This transaction provides us with financing flexibility as we advance 
two programs into clinical trials, including our lead program 
dipraglurant for Parkinson's disease levodopa-induced dyskinesia, and 
four programs towards IND-enabling studies," said Tim Dyer, CEO of 
Addex. "We also look forward to the start of our third clinical program, 
ADX71149 for epilepsy which is being executed by our partner, Janssen 
Pharmaceuticals Inc." 
 
   About Addex Therapeutics: 
 
   Addex Therapeutics 
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is a clinical-stage pharmaceutical company focused on the development 
and commercialization of an emerging class of novel orally available 
small molecule drugs known as allosteric modulators for neurological 
disorders. Allosteric modulators offer several potential advantages over 
conventional non-allosteric molecules and may offer an improved 
therapeutic approach to conventional "orthosteric" small molecule or 
biological drugs. Addex's allosteric modulator drug discovery platform 
targets receptors and other proteins that are recognized as essential 
for therapeutic intervention. Addex's lead product candidate, 
dipraglurant (mGlu5 negative allosteric modulator or NAM), is poised to 
start a pivotal registration clinical trial for Parkinson's disease 
levodopa induced dyskinesia (PD-LID) in Q2 2021. Addex is also 
investigating dipraglurant's therapeutic use in blepharospasm (a type of 
dystonia), for which a clinical trial is expected to be initiated in Q2 
2021. Addex's third clinical program, ADX71149 (mGlu2 positive 
allosteric modulator or PAM), developed in collaboration with Janssen 
Pharmaceuticals, Inc., is scheduled to enter a phase 2a proof of concept 
clinical trial for the treatment of epilepsy in Q2 2021. Addex's GABAB 
PAM program has been licensed to Indivior PLC, which is focused on 
development for the treatment of addiction. Preclinical programs include 
GABAB PAM for CMT1A, mGlu7 NAM for PTSD, mGlu2 NAM for mild 
neurocognitive disorders, mGlu4 PAM for Parkinson's disease and mGlu3 
PAM for neurodegenerative disorders. Addex shares are listed on the SIX 
Swiss Exchange and American Depositary Shares representing its shares 
are listed on the NASDAQ Capital Market, and trade under the ticker 
symbol "ADXN" on each exchange. 
 
   Press Contacts: 
 
 
 
 
Tim Dyer                   Mike Sinclair              James Carbonara 
 Chief Executive Officer    Partner, Halsin Partners   Hayden IR 
 +41 22 884 15 55           +44 (0) 20 7318 2955       (646)-755-7412 
 PR@addextherapeutics.com   msinclair@halsin.com       james@haydenir.com 
 
   Forward Looking Statements: 
 
   This press release contains forward-looking statements within the 
meaning of the Private Securities Litigation Reform Act of 1995, as 
amended, including in respect of the anticipated initiation and progress 
of clinical trials and preclinical studies, and its future financing 
activities. The words "may," "will," "could," "would," "should," "expect, 
" "plan," "anticipate," "intend," "believe," "estimate," "predict," 
"project," "potential," "continue," "target" and similar expressions are 
intended to identify forward-looking statements, although not all 
forward-looking statements contain these identifying words. Any 
forward-looking statements in this press release, are based on 
management's current expectations and beliefs and are subject to a 
number of risks, uncertainties and important factors that may cause 
actual events or results to differ materially from those expressed or 
implied by any forward-looking statements contained in this press 
release, including, without limitation, uncertainties related to market 
conditions. These and other risks and uncertainties are described in the 
Company's Annual Report on Form 20-F filed with the SEC on March 11, 
2021, as well as market conditions and regulatory review. 
 
   Any forward-looking statements contained in this press release represent 
Addex Therapeutics' views only as of the date hereof and should not be 
relied upon as representing its views as of any subsequent date. Addex 
Therapeutics explicitly disclaims any obligation to update any 
forward-looking statements, except as required by law. 
 
 
 
 

(END) Dow Jones Newswires

April 26, 2021 01:00 ET (05:00 GMT)

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