Addex to Focus Resources on Clinical Pipeline

Addex Therapeutics / Addex to Focus Resources on Clinical Pipeline . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

2013 Value Drivers:

·         Initiate Phase 2 clinical testing of dipraglurant (mGlu5 NAM) in a rare disease indication
·         Submit Orphan Drug Application in U.S. and Europe for dipraglurant
·         Complete Phase 1 testing of ADX71441 (GABA_B-R PAM)
·         Select clinical candidate for an oral multiple sclerosis therapeutic (mGlu4 PAM)
·         List on a U.S. stock exchange
·         Enter 2013 with CHF15.3 million of cash sufficient through year end 2013

Geneva, Switzerland, 7 February 2013 - Addex Therapeutics (SIX: ADXN), a leading company pioneering allosteric modulation-based drug discovery and development, announced today that it will focus its resources on developing its clinical stage pipeline for rare diseases.  In pursuing this strategy, Addex will advance current clinical and pre-IND programs in certain diseases where orphan drug designation can be reasonably achieved in the major commercial markets - U.S., Europe and Japan.  In executing this strategy and to maximize potential clinical success in at least two programs over the next 12 months, the company will reduce its overall cost structure, particularly around its early-stage discovery efforts, while maintaining its core competency and expertise in allosteric modulation.  The result will be a development-focused company with a year cash runway.  In addition, the company will seek to increase its cash position through non-dilutive partnerships by monetizing its platform capability as well as current discovery programs via licensing and strategic transactions.  Finally, to improve the Company's liquidity and long term outlook, Addex will secure a listing on a US stock exchange.

The Company plans to focus its efforts on its current pipeline: (1) dipraglurant, an mGlu5 negative allosteric modulator (NAM) currently in Phase 2 development for the treatment of Parkinson's Disease Levodopa Induced Dyskinesia as well as certain rare dystonias; (2) ADX71441 a GABAB-R positive allosteric modulator (PAM) expected in Phase 1 studies by mid-year for the treatment of Charcot-Marie-Tooth neuropathy (CMT1a); and (3) an oral mGlu4 PAM currently in pre-IND studies for the treatment of multiple sclerosis.