Unlocking Neurological Breakthroughs: Addex Therapeutics' Transformative JourneyAddex Therapeutics, a clinical-stage biopharmaceutical company, has made significant strides in developing a portfolio of novel small molecule allosteric modulators for neurological disorders. The company's recent achievements, including the launch of Neurosterix and the selection of drug candidates for further development, have positioned it at the forefront of the industry's efforts to address unmet medical needs in the realm of neurological conditions.

Revolutionizing Neurological Care: Addex Therapeutics' Innovative Approach

Launching Neurosterix: Accelerating the Development of M4PAM for Schizophrenia

Addex Therapeutics has taken a major step forward in its mission to address neurological disorders with the launch of Neurosterix, a new venture backed by a $63 million Series A financing led by Perceptive Advisors. This strategic move will enable the company to accelerate the development of its preclinical portfolio, including the promising M4PAM (Muscarinic Acetylcholine Receptor 4 Positive Allosteric Modulator) for the treatment of schizophrenia.The launch of Neurosterix represents a significant milestone for Addex Therapeutics, as it secures the necessary funding and resources to drive the advancement of its innovative therapies. By establishing this new entity, the company has not only secured a substantial cash runway beyond 2026 but has also retained a 20% equity interest, further strengthening its financial position and long-term prospects.

Indivior's Selection of a GABAB PAM Drug Candidate for Substance Use Disorders

In addition to the Neurosterix launch, Addex Therapeutics has also achieved another important milestone through its collaboration with Indivior. The successful completion of their research agreement has resulted in both Indivior and Addex selecting drug candidates for further independent development.Indivior has chosen a GABAB PAM (Gamma-Aminobutyric Acid Type B Receptor Positive Allosteric Modulator) drug candidate for development in substance use disorders. This decision marks a significant step forward in the partnership, as Indivior will now take full responsibility for the future development of this promising therapeutic candidate.The selection of the GABAB PAM drug candidate by Indivior has also enabled Addex Therapeutics to focus on the development of its own GABAB PAM program, which will be evaluated for the treatment of chronic cough. This independent development opportunity aligns with Addex's strategic priorities and allows the company to further expand its pipeline and address another area of unmet medical need.

Advancing an Independent GABAB PAM Program for Chronic Cough

Addex Therapeutics' decision to select and develop its own GABAB PAM drug candidate for the treatment of chronic cough represents a strategic move that leverages the company's expertise and resources. By taking on this independent development program, Addex is poised to address the significant burden of chronic cough, a condition that affects millions of individuals worldwide and for which there is a lack of effective treatment options.The GABAB PAM program for chronic cough is a testament to Addex's commitment to innovation and its ability to identify and pursue promising therapeutic opportunities. By focusing on this independent development, the company can further diversify its pipeline and increase its chances of delivering transformative solutions to patients in need.

Navigating Setbacks: Janssen's Epilepsy Study Results

While Addex Therapeutics has achieved several notable successes, the company has also faced a setback in its partnership with Janssen Pharmaceuticals Inc. The top-line results from the Phase 2 study of ADX71149 in epilepsy did not show statistical significance, a disappointing outcome that highlights the inherent challenges in drug development.Despite this setback, Addex Therapeutics remains committed to its mission and continues to explore new avenues for growth and innovation. The company's diverse pipeline and strategic partnerships demonstrate its resilience and ability to navigate the complexities of the biopharmaceutical industry.

Strengthening the Financial Foundation

Addex Therapeutics' financial performance during the first half of 2024 reflects the company's ability to manage its resources effectively and position itself for long-term success. The sale of a part of its business to Neurosterix has generated a significant net gain, providing the company with a strong financial foundation to support its ongoing operations and future development efforts.The decrease in cash and cash equivalents is primarily due to the cash used in operating activities, which is to be expected as the company continues to invest in its research and development programs. However, the gross proceeds of CHF 5.0 million from the Neurosterix transaction have helped to offset this reduction, ensuring that Addex Therapeutics maintains a solid financial position.The company's focus on cost management and strategic decision-making has enabled it to navigate the challenges of the current market environment and remain well-positioned to capitalize on future opportunities. As Addex Therapeutics continues to advance its pipeline and explore new avenues for growth, its financial stability will be a crucial factor in its ability to deliver on its ambitious goals.