Addex to Receive CHF850,000 ($900,000) of Additional Funding; Addex’s Reserved Indications Expanded to include Chronic Cough
Ad Hoc Announcement Pursuant to Art. 53 LR
Geneva, Switzerland, August 15, 2022 – Addex Therapeutics (SIX and Nasdaq: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, today announced that its collaboration agreement with Indivior PLC (LON: INDV) for discovering and developing novel oral gamma-aminobutyric acid subtype B (GABAB) positive allosteric modulator (PAM) drug candidates has been extended until March 31, 2023. As part of the amended agreement, Indivior will provide Addex with CHF 850,000 (approx. US $900,000) of additional research funding. The reserved indications, where Addex retains exclusive rights to develop its own independent GABAB PAM program, have also been expanded to include chronic cough, in addition to the rights to develop certain retained compounds for Charcot-Marie-Tooth type 1A neuropathy (CMT1A) and pain.
“We have advanced the GABAB PAM program into the late stage of clinical candidate selection and are currently selecting compounds for entry into IND enabling studies for both Indivior’s program in substance use disorder and Addex’s independent programs for CMT1A, chronic cough and pain,” said Mikhail Kalinichev, Head of Translational Science of Addex. “This additional research funding demonstrates the progress made to date in identifying…
