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ADDEX THERAPEUTICS RECOGNISED IN FINAL SHORTLIST FOR DEAL OF THE YEAR AT LIFESTARS AWARDS LIFE SCIENCE AWARDS FOR PARTNERSHIP WITH INDIVIOR
Geneva, Switzerland and London, UK, 25 September 2018 – Addex Therapeutics (SIX: ADXN), a biopharmaceutical company focused on the development of novel, orally available, small molecule allosteric modulators for neurological disorders, announced today that it has been recognised in the final shortlist of 10 European companies in the Deal of the Year category at the 2018 Lifestars AwardsTM for its partnership with Indivior PLC announced in January 2018.
Addex’s agreement with Indivior focuses on the global development and commercialization of ADX71441 for the treatment of addiction. ADX71441 is a potent, selective positive allosteric modulator (PAM) that potentiates gamma-aminobutyric acid (GABA) responses at the GABAB receptor, which has demonstrated efficacy in multiple models of addiction in preclinical models. Addex received a $5 million upfront and will receive $4 million of committed research funding for two years to discover additional GABAB PAM compounds. In addition, Addex could receive up to $330 million of potential development, regulatory and commercialization milestones, and tiered royalties up to double-digit. Addex also retains the right to select compounds from the research collaboration for certain indications outside addiction, including Charcot-Marie-Tooth type 1a neuropathy (CMT1A).
“Indivor is a world-leading developer of addiction treatments so was an ideal partner for Addex. The partnership provides for extensive research on multiple GABAB PAM candidates in multiple disease areas by both Indivior and Addex, creating a true win-win partnership with potential to provide innovative treatments for several patient populations, including addiction and Charcot-Marie-Tooth Type 1a neuropathy. I believe that it's this multifaceted deal structure that is being recognized by the judges with this prestigious shortlist nomination,” said Tim Dyer, CEO of Addex.
Lifestars is a celebration of the success stories, innovations, transformational deals and the people, teams and organisations that play such a critical role in the advancement of the industry over the last 12 months across Europe and the US. The international awards will bring together over 500 global life science leaders, investors and deal makers and key stakeholders from the wider eco-system to recognise the achievements of the industry. 16 awards will be contested during a prestigious gala dinner hosted at the Honourable Artillery Company in London, UK and will support UNICEF UK as the official Charity beneficiary.
LifestarsTM forms a signature, evening networking function during the Jefferies Annual Healthcare Conference week in London, Europe's largest healthcare investment banking conference.
"This is set to be the biggest night of the year for acknowledging the life science industry and an important platform in which we recognise those achievements and those responsible. It presents a fantastic opportunity to bring together a deserved audience and highlight the advances being made in our industry. It is going to be a great way to kick off a truly energising week! Congratulations to Addex Therapeutics,” Taz Shariff, SVP, LifestarsTM.
The LifestarsTM Awards are organised by LSX, an influential community of senior life science decision makers. Through impactful events, powerful thought leadership content and unique networking opportunities, LSX exists to forge a fundamentally better way to promote and facilitate investment, financing, partnerships and deal making in healthcare. For more information please visit www.lsxleaders.com/lifestars-awards
About Addex Therapeutics
Addex Therapeutics (www.addextherapeutics.com) is a biopharmaceutical company focused on the development of novel, orally available, small molecule allosteric modulators for neurological disorders. Allosteric modulators are an emerging class of small molecule drugs which have the potential to be more specific and confer significant therapeutic advantages over 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 - the Addex pipeline has been generated from this pioneering allosteric modulator drug discovery platform. Addex's lead drug candidate, dipraglurant (mGluR5 negative allosteric modulator or NAM) has successfully completed a Phase 2a POC in Parkinson's disease levodopa-induced dyskinesia (PD-LID), and is being prepared to enter registration trials for PD-LID. In parallel, dipraglurant's therapeutic use in dystonia is being investigated. Addex's second clinical program, ADX71149 (mGluR2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for epilepsy. In addition, ADX71441 (GABAB receptor PAM) program was awarded a $5.3 million grant by the US National Institute on Drug Abuse (NIDA, a division of National Institutes of Health (NIH)) to support human studies in cocaine addiction and has been licensed to Indivior. Discovery programs include mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM.
Contact: Taz Shariff
Phone: +44 (0) 203 637 5908
|For Addex Therapeutics|
Chief Executive Officer
Telephone: +41 22 884 15 61
Partner, Halsin Partners
+44 (0)20 7318 2955
Disclaimer / Forward-looking statements: This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Addex Therapeutics Ltd. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.