Geneva, Switzerland, April 8, 2021 - 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 on Form F-3 with the U.S. Securities and Exchange Commission (SEC) to provide flexibility for future offerings 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 future offerings have not been determined yet and there can be no assurance as to whether or when the offerings may be completed. Addex intends to file a prospectus supplement with the SEC, where required, to describe the specific terms of any such securities offering.
A registration statement on Form F-3 has been filed with the SEC but has not yet become effective. The securities referred to in the registration statement may not be sold, nor may offers to buy them 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.
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.
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 March 11, 2021, as well as market conditions and regulatory review.
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