Addex to Focus Resources on Clinical Pipeline - Seite 3

"Addex is making excellent progress in advancing its proprietary pipeline of novel oral small molecules against a number of validated high-value targets," said Graham Dixon, CSO at Addex.  "Positioning our pipeline in the rare disease space will allow us to create significant shareholder value by advancing programs to key value inflection points without partners. Expected milestones in 2013 include: starting a Phase 2a trial in a rare disease indication with dipraglurant, starting a Phase 1 trial with ADX71441 with the intent to move rapidly to a Phase 2 study in CMT1a, selecting a clinical candidate for our mGlu4 PAM program and targeted completion by Janssen Pharmaceuticals, Inc. of the phase 2a study with ADX71149 in patients who have anxiety and major depressive disorder.   We are confident in our ability to execute on this new strategy and look forward to reporting clinical results on our programs throughout the year."

Financial update:
Cash utilization for the year ended 2012 is CHF20.8 million resulting in a cash balance at 31 December 2012 of CHF15.3 million in line with guidance of CHF20-21 million and CHF15-16 million, respectively. Based on the current financial plan, current cash levels are sufficient to sustain operations through year end 2013.

A webcast and conference call will be held today at 16:00 CET (15:00 GMT>10:00 EST).To participate, please listen to the webcast or call one of the following telephone numbers. RSVP is not necessary.

Dial-in numbers:  [phone] (Europe)
                            [phone] (UK)
                            [phone] (USA)

The live webcast, slides, webcast replay and transcript, as well as the 2012 half year financial statements will be available at www.addextherapeutics.com.

Addex Therapeutics (www.addextherapeutics.com) is a development stage company focused on advancing innovative oral small molecules against rare diseases utilizing its pioneering allosteric modulation-based drug discovery platform.  The Company's two lead products are being investigated in Phase 2 clinical testing: dipraglurant (ADX48621, an mGlu5 negative allosteric modulator or NAM) is being developed by Addex to treat Parkinson's disease levodopa-induced dyskinesia (PD-LID) and rare forms of dystonia; and ADX71149 (mGlu2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc. to treat both schizophrenia and anxiety as seen in patients suffering from major depressive disorder. Addex is also advancing several preclinical programs including: GABA-BR positive allosteric modulator (PAM) for Charcot-Marie-Tooth (type 1a) disease, spasticity in patients with multiple sclerosis (MS), pain, overactive bladder and other disorders; and mGlu4 PAM for MS, Parkinson's disease, anxiety and other diseases. Allosteric modulators are an emerging class of small molecule drugs which have the potential to be more specific and confer significant therapeutic advantages over conventional "orthosteric" small molecule or biological drugs. The Company uses its proprietary discovery platform to target receptors and other proteins that are recognized as essential for the therapeutic modulation of important diseases with unmet medical needs.