Addex Therapeutics Raises $2.52M to Accelerate Next-Generation Treatments for Neurological Disorders

Addex Therapeutics is pleased to announce the successful raise of CHF 2,520,000 in its latest funding round, a major milestone that underscores the market’s confidence in its innovative approach to addressing neurological disorders. As a clinical-stage pharmaceutical company, Addex Therapeutics is at the forefront of developing and commercializing a promising new class of orally available small molecule drugs known as allosteric modulators. These modulators offer potential advantages over traditional orthosteric therapies, providing a more refined approach to targeting receptors and proteins essential for therapeutic intervention. The funds garnered in this round will be strategically allocated to accelerate the advancement of its robust pipeline, including its lead drug candidate, dipraglurant. This mGlu5 negative allosteric modulator (NAM) is set to initiate a pivotal registration clinical trial targeting Parkinson’s disease levodopa-induced dyskinesia (PD-LID) in the first half of 2021, with parallel investigations into its application for blepharospasm. Additionally, the funding will support the progression of ADX71149 – a promising mGlu2 positive allosteric modulator (PAM) developed together with Janssen Pharmaceuticals – into a phase 2a proof of concept study for epilepsy. Further investments will bolster preclinical programs focusing on innovative therapies for conditions such as PTSD, mild neurocognitive disorders, and various neurodegenerative disorders. This financial boost not only reaffirms Addex Therapeutics’ commitment to pioneering new therapeutic approaches but also reinforces its dedication to transforming the landscape of neurological disorder treatments. As a company listed on the SIX Swiss Exchange and NASDAQ Capital Market under the ticker symbol "ADXN", Addex Therapeutics continues to pave its way towards becoming a leader in next-generation pharmaceuticals, driven by science, innovation, and an unwavering commitment to patients.