Addex Announces Filing of Registration Statement for Proposed Public Offering of Securities
15 December 2020 - 4:22AM
Geneva, Switzerland, December 14, 2020 – Addex
Therapeutics Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage
pharmaceutical company pioneering allosteric modulation-based drug
discovery and development announced today that it has filed a
registration statement with the U.S. Securities and Exchange
Commission (SEC) for a proposed underwritten public offering of
shares, including those to be settled in the form of American
Depositary Shares (ADSs). Each ADS represents the right to receive
six shares of Addex. The terms of the offering have not been
determined, and the offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed. The Company will be concurrently
offering the shares in Europe (other than Switzerland) in a private
placement to qualified investors, and in Switzerland through
private placements.
H.C. Wainwright & Co. is acting as sole
book-running manager for the offering.
The proposed offering will be made only by means
of a prospectus. Once available, an electronic copy of the
preliminary prospectus relating to, and describing the terms of,
the offering may be obtained from H.C. Wainwright & Co., LLC at
430 Park Avenue, 3rd Floor, New York, NY 10022, by
telephone at (646) 975-6996 or e-mail at placements@hcwco.com
or on the SEC’s website.
A registration statement on Form F-1 relating to
the proposed sale of these securities has been filed with the SEC
but has not yet become effective. These securities may not be sold,
nor may offers to buy be accepted, prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. There is no intention or permission to publicly
offer, solicit, sell or advertise, directly or indirectly, any
securities of Addex Therapeutics Ltd in or into Switzerland within
the meaning of the Swiss Financial Services Act ("FinSA"). Neither
this document nor any other offering or marketing material relating
to these securities, such as the shares, constitutes or will
constitute a prospectus pursuant to the FinSA, and neither this
document nor any other offering or marketing material relating to
the shares constitutes a prospectus pursuant to the FinSA, and
neither this document nor any other offering or marketing material
relating to the shares may be publicly distributed or otherwise
made publicly available in Switzerland.
About Addex Therapeutics:Addex
Therapeutics 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 poised to start
a pivotal registration clinical trial for Parkinson’s disease
levodopa induced dyskinesia (PD-LID) in 2021. Addex is also
investigating dipraglurant's therapeutic use in blepharospasm (a
type of dystonia), for which a clinical trial is expected to be
initiated in 2021. Addex's third clinical program, ADX71149 (mGlu2
positive allosteric modulator or PAM), developed in collaboration
with Janssen Pharmaceuticals, Inc, is scheduled to enter a phase 2a
proof of concept clinical study for the treatment of epilepsy in
2021. Addex’s GABAB PAM program has been licensed to Indivior
PLC for the treatment of addiction. Preclinical programs include
GABAB 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.
Press Contacts:
Tim DyerChief Executive OfficerTelephone: +41 22 884 15
55Email: PR@addextherapeutics.com |
Mike SinclairPartner, Halsin Partners+44 (0)20 7318
2955msinclair@halsin.com |
Forward Looking
Statements:Statements in this announcement concerning the
timing and terms of the anticipated offering of the Company’s
securities are forward-looking statements, which are subject to
risks and uncertainties, including those risks described in the
Company’s Annual Report on Form 20-F filed with the SEC on April
27, 2020, as well as market conditions and regulatory review.
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