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    ADXN   CH0029850754

ADDEX THERAPEUTICS LTD

(ADXN)
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Press Release: Addex to Present at the 10th International Meeting on Metabotropic Glutamate Receptors

10/04/2021 | 01:00am EST

Geneva, Switzerland, October 4, 2021 - https://www.globenewswire.com/Tracker?data=PSJBaXAbHCOxQuj51J0WFtjgqb4C7De-VaeWxMJo_jM2Z_O0PI_5E3YKAOhvtmaYr4HWKula-ih-nCXuB2p2pdFH-0zqyQpnfGKdbagRnsI= Addex https://www.globenewswire.com/Tracker?data=AIepmUopSAWHF4il_ZKLMLPjrv1srpUeC9oWjiejywfqI3prrN4yRbJFtodVAqzaBLkGLGuIWsRQD37YiZcuh58gjAWSpgsl874_8SuEa14= Therapeutics (SIX: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, announced today that Dr Lütjens, Head of Discovery -- Biology and Dr Rocher, Head of Discovery -- Chemistry, will present today at the 10th International Meeting on Metabotropic Glutamate Receptors https://www.globenewswire.com/Tracker?data=C_hQX0CTwo0roHsEunyFgOr0grya6pEiGsyJifcxKFJ3ucHFaDzCh8P-L4aBA4Ao_WLfwfXnVWxRtS_HcBXesg67FwSgWoVEejdj2ACMYVv1rl9JgoBEF0sQgILq4bH53vorO7olEdmQah0Z7keBjA== (October 1 - 6, 2021). Dr Paparin, Senior Manager -- Chemistry, will be participating at the conference as well.

In a first presentation, Dr. Rocher will discuss recent developments in our understanding of the mGlu2 receptor allosteric binding pocket and implications for drug discovery in the field of mGlu2 selective allosteric modulators. In a second presentation, Dr. Lütjens will discuss the discovery and development of ADX71149, the mGlu2 positive allosteric modulator discovered in collaboration with Janssen Pharmaceuticals Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, currently in a phase 2a study in epilepsy patients.

In addition, Dr Lütjens and Dr Rocher will discuss the following preclinical programs, mGlu2 NAM for the treatment of mild neurocognitive disorders, mGlu3 PAM for the treatment of neurodegenerative disorders, mGlu4 PAM for the treatment of Parkinson's disease and mGlu7 NAM for the treatment of post-traumatic stress disorder.

More information on these programs can be found on our website under our pipeline section https://www.globenewswire.com/Tracker?data=J2TYWMOdFGCAFA9k1szN6ZNXvLXtNCPZZ_1FqecGm9J76TkykbJj5t3eG-QmFglIEDJPQdpMYQONU8qab2h6S1YbzgTlBY9JfLqQ_HyMgp2iEomVfNut53t1BVZ2X-Lz .

Management will be available for one-on-one meetings throughout the conference. For more information or to schedule a one-on-one meeting with management, please contact your conference representative or at info@addextherapeutics.com https://www.globenewswire.com/Tracker?data=jp3VFLRepJK8CnWGgHnGbQYFN_MYF6p21v-2nYsWVqTcX6-4v5Km9O3GxMjzRXQ-g7bZuwvhXcDKdGJqy_DjYWs4mRCN849BvqpPTM8xpJZOSeUR04T8mEo-QIkDuGh1 .

About Addex Therapeutics:

Addex Therapeutics https://www.globenewswire.com/Tracker?data=PSJBaXAbHCOxQuj51J0WFu0I7-XTP5ewngrG4NWG1WOROeE4YAg0_8-5guGUw_58e9kx7GV0FWPOlrqPWGKrQNFQg-Ksb_PeYziOTHUMMlo= 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 drug candidate, dipraglurant (mGlu5 negative allosteric modulator or NAM), is in a pivotal registration clinical trial for Parkinson's disease levodopa induced dyskinesia (PD-LID), in addition to the Phase 2 clinical study for blepharospasm. Addex's third clinical program, ADX71149 (mGlu2 positive allosteric modulator or PAM), developed in collaboration with Janssen Pharmaceuticals, Inc., is in a Phase 2a proof of concept clinical trial for the treatment of epilepsy. Indivior PLC has licensed Addex's GABA(B) PAM program for the development of drug candidates with a focus in addiction. Preclinical programs ongoing with Addex include GABA(B) 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.

Contact:

 
Tim Dyer                      Mike Sinclair              James Carbonara 
 Chief Executive Officer       Partner, Halsin Partners   Hayden IR 
 Telephone: +41 22 884 15 55   +44 (0)20 7318 2955        (646)-755-7412 
 PR@addextherapeutics.com      msinclair@halsin.com       james@haydenir.com 
 

Addex 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 of clinical trials. 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.

Geneva, Switzerland, October 4, 2021 - https://www.globenewswire.com/Tracker?data=PSJBaXAbHCOxQuj51J0WFsQJ98vSZnuwMrRrQ3Frhiox9xVsqaU5AQ2RI4ihFmDb6OrYffpVEF5o-97lKqRKEV9Ytj3y1tQHICNcBePO2WY= Addex https://www.globenewswire.com/Tracker?data=AIepmUopSAWHF4il_ZKLMAuSvpHhAPTMDnc59B0dOyjjAzcdcg717M0MkMAv3lPPkGt6cWR-NbzwP8S7RWlnc_v0Rr1tKJUGrStRefV1px0= Therapeutics (SIX: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, announced today that Dr Robert Lütjens, Head of Discovery -- Biology and Dr Jean-Philippe Rocher, Head of Discovery -- Chemistry, will present at the 10th International Meeting on Metabotropic Glutamate Receptors https://www.globenewswire.com/Tracker?data=C_hQX0CTwo0roHsEunyFgOr0grya6pEiGsyJifcxKFJ3ucHFaDzCh8P-L4aBA4Ao_WLfwfXnVWxRtS_HcBXesvF4wdHFfxJ-9R8JotEXdYi4qDfDE8CGz8VA1tq6JfVm50oeABJTUP-5kFipSzZuhA== (October 1 - 6, 2021).

In their presentation, which is scheduled for Monday, October 4, 2021, Dr. Lütjens and Dr. Rocher will discuss recent developments in the following preclinical programs: mGlu2 negative allosteric modulator (NAM) for the treatment of mild neurocognitive disorders, mGlu3 positive allosteric modulator (PAM) for the treatment of neurodegenerative disorders, mGlu4 PAM for the treatment of Parkinson's disease and mGlu7 NAM for the treatment of post-traumatic stress disorder.

More information on these programs can be found on our website under our pipeline section https://www.globenewswire.com/Tracker?data=J2TYWMOdFGCAFA9k1szN6VArDvSB1X1SebTDVFm4l827kOrItF5VtKNLX80thPke2lVDO6ml1o3_JDdnCOCZZr3RyMaTeYkbGUqdyE8ZyxgI3d8wGiKpV0WH3PTt3rII .

The Addex team will be available for one-on-one meetings throughout the conference. For more information or to schedule a one-on-one meeting with management, please contact us at info@addextherapeutics.com https://www.globenewswire.com/Tracker?data=jp3VFLRepJK8CnWGgHnGbQYFN_MYF6p21v-2nYsWVqQtQGcOjTMzb-ivIpxSug9xgJa3t8a_Ui7apBnBfCCofK2WMVK6vaanxQHUwlWlM75UlcZchvwlcDO96aglcCYh .

About Addex Therapeutics:

Addex https://www.globenewswire.com/Tracker?data=PSJBaXAbHCOxQuj51J0WFo07-yP3lPFRq6X5zxWsXU-PH6IbbdIPpGf3a-jILheVaXIouZ8X3QDAaGuAx0XkodAD1mEPzUYtvEUzPnI-QWc= Therapeutics https://www.globenewswire.com/Tracker?data=AIepmUopSAWHF4il_ZKLMNGXzVY8CQevk8B5zLydr69LkTbz7ErWDcLOT6yt74UermHk445s_IJpZoHXfHny-0Dh4CW4aVRHBWRAkxkNe2U= 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 drug candidate, dipraglurant (mGlu5 negative allosteric modulator or NAM), is in a pivotal registration clinical trial for Parkinson's disease levodopa induced dyskinesia (PD-LID Addex is also investigating dipraglurant's therapeutic use in blepharospasm, a type of dystonia, for which a clinical trial was initiated in Q3 2021. Addex's third clinical program, ADX71149 (mGlu2 positive allosteric modulator or PAM), developed in collaboration with Janssen Pharmaceuticals, Inc., is in a Phase 2a proof of concept clinical trial for the treatment of epilepsy. Indivior PLC has licensed Addex's GABA(B) PAM program for the development of drug candidates with a focus in addiction. Preclinical programs ongoing with Addex include GABA(B) 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

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October 04, 2021 01:00 ET (05:00 GMT)

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Financials
Sales 2021 2,35 M 2,56 M 2,56 M
Net income 2021 -16,5 M -18,0 M -18,0 M
Net Debt 2021 5,28 M 5,74 M 5,74 M
P/E ratio 2021 -2,27x
Yield 2021 -
Capitalization 37,2 M 40,5 M 40,5 M
EV / Sales 2021 18,1x
EV / Sales 2022 32,7x
Nbr of Employees 27
Free-Float 65,2%
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Number of Analysts 2
Last Close Price 1,09 CHF
Average target price 25,72 CHF
Spread / Average Target 2 260%
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Managers and Directors
Timothy Dyer Chief Executive Officer & Director
LÚnaic TeyssÚdou Head-Finance
Vincent M. Lawton Chairman
Roger G. Mills Director & Chief Medical Officer
Raymond George Hill Director
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