Addex GABAB Positive Allosteric Modulator Program to Receive Additional CHF2.7 Million from Indivior in Extended Substance Use Disorder Research Collaboration
03 August 2023 - 3:00PM
Addex GABAB Positive Allosteric Modulator Program to Receive
Additional CHF2.7 Million from Indivior in Extended Substance Use
Disorder Research Collaboration
- Discovery
collaboration on track to deliver
clinical candidates
for IND enabling studies in 2024
Ad Hoc Announcement Pursuant to
Art. 53 LR
Geneva, Switzerland,
August 3, 2023
- 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
the discovery of novel oral gamma-aminobutyric acid subtype B
(GABAB) positive allosteric modulator (PAM) drug candidates for the
treatment of substance use disorder has been extended until June
30, 2024. As part of the extended agreement, Indivior has committed
CHF 2.7 million to support research and discovery activities during
this period. Addex retains exclusive rights to advance its own
independent GABAB PAM program and is developing compounds for the
treatment of chronic cough.
“We are excited to continue working closely with
Indivior in this promising application of our allosteric modulator
discovery platform,” said Tim Dyer, CEO of Addex. “Indivior’s
commitment to the substance use disorder program demonstrates the
solid progress being made in the advancement of promising GABAB PAM
candidates with the optimal characteristics needed for success in
the clinic.”
About GABAB Activation with
PAM:Activation of gamma-aminobutyric acid subtype B
(GABAB) receptor, a Family C class of GPCR, is clinically and
commercially validated. The generic GABAB receptor agonist,
baclofen, marketed for spasticity and some spinal cord injuries,
has been shown to be efficacious in several other disease areas,
including alcohol use disorder, CMT1A, chronic cough and pain.
However, its wider use is limited due to a variety of side effects,
rapid clearance and the development of tolerance. Novel, potent,
selective and orally available positive allosteric modulators
(PAMs) that potentiate GABA responses, rather than acting as
orthosteric agonists at the GABAB receptor, like baclofen, are
expected to deliver efficacy and have fewer adverse effects.
Furthermore, PAMs only act when the natural ligand (GABA) activates
the receptor, hence respecting the physiological cycle of
activation, which may explain why PAMs lead to less tolerance than
direct agonists.
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, ADX71149
(mGlu2 positive allosteric modulator or PAM), developed in
collaboration with Janssen Pharmaceuticals, Inc., is in a Phase 2
clinical trial for the treatment of epilepsy. Addex's second
clinical program, dipraglurant (mGlu5 negative allosteric modulator
or NAM), is under evaluation for future development in post-stroke
recovery. Indivior PLC has licensed Addex’s GABAB PAM program for
the development of drug candidates, with a focus on substance use
disorder. Addex is also advancing a broad preclinical pipeline,
which includes development of GABAB PAM for chronic cough, M4 PAM
for schizophrenia and other forms of psychosis, mGlu7 NAM for
stress related disorders, mGlu2 NAM for mild neurocognitive
disorders and depression, as well as mGlu4 PAM and mGlu3 PAM. Addex
shares are listed on the SIX Swiss Exchange and American Depositary
Shares representing its shares are listed on the NASDAQ Capital
Market, and trade under the ticker symbol "ADXN" on each
exchange.
Contacts:
Tim DyerChief
Executive OfficerTelephone: +41 22 884 15 55
PR@addextherapeutics.com |
Mike
SinclairPartner, Halsin Partners+44 (0)20 7318
2955msinclair@halsin.com |
Addex Forward Looking
Statements:This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, including statements about the
intended use of proceeds of the offering. The words “may,” “will,”
“could,” “would,” “should,” “expect,” “plan,” “anticipate,”
“intend,” “believe,” “estimate,” “predict,” “project,” “potential,”
“continue,” “target” and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
forward-looking statements in this press release, are based on
management's current expectations and beliefs and are subject to a
number of risks, uncertainties and important factors that may cause
actual events or results to differ materially from those expressed
or implied by any forward-looking statements contained in this
press release, including, without limitation, uncertainties related
to market conditions. These and other risks and uncertainties are
described in greater detail in the section entitled “Risk Factors”
in Addex Therapeutics’ Annual Report on Form 20-F for the year
ended December 31, 2022, as filed with the SEC on March 30, 2023,
the final prospectus supplement and accompanying prospectus and
other filings that Addex Therapeutics may make with the SEC in the
future. Any forward-looking statements contained in this press
release represent Addex Therapeutics’ views only as of the date
hereof and should not be relied upon as representing its views as
of any subsequent date. Addex Therapeutics explicitly disclaims any
obligation to update any forward-looking statements.
Addex Therapeutics (LSE:0QNV)
Historical Stock Chart
From Apr 2024 to May 2024
Addex Therapeutics (LSE:0QNV)
Historical Stock Chart
From May 2023 to May 2024