Addex Launches CHF40 million Capital Increase with Commitments from Specialist US Healthcare Investors

Proceeds will extend cash runway through 2022 and fund dipraglurant through the first pivotal registration study in PD-LID


Geneva, Switzerland, 15 February 2018 – Addex Therapeutics (SIX: ADXN), the leading developer of oral allosteric modulators for neurological disorders, announced today that the Board of Directors will seek shareholder approval to increase its share capital by issuing up to 12,779,553 new shares at a price of CHF3.13. Each new share will receive a 7 year warrant to purchase 0.45 of a share at a price of CHF3.43. The gross proceeds, of up to CHF40 million net of certain costs and expenses associated with the placement, will be used to advance Addex’s portfolio of drug candidates, including registration studies for lead program, dipraglurant, for levodopa-induced dyskinesia associated with Parkinson’s disease (PD-LID). Of the up to CHF40 million placement, CHF30 million has been committed by New Enterprise Associates, New Leaf Venture Partners, CAM Capital and clients of Herculis Partners and Semper Finance Group. The remaining up to CHF10 million of the share offering are planned to be placed through a book building process starting today.


Launching this CHF40 million fundraising with commitments in place from several world-leading healthcare investors is a pivotal step in the continued progress made recently at Addex. It provides the financial flexibity to deliver not only on late-stage product development, but clearly sets us firmly on the path to a US listing.” said Tim Dyer, CEO of Addex. “This significant cash injection will allow us to quickly advance our lead product, dipraglurant, into pivotal registration studies for PD-LID, one of the most distressing and difficult to treat aspects of Parkinson’s disease. In addition, we intend to advance the rest of our portfolio of proprietary allosteric modulators to key value inflection points.”


The share offering will be conducted as a private placement of shares and warrant shares in Switzerland and abroad to qualified institutional investors, subject to certain limitations based on residency in compliance with applicable securities laws.


The Addex shareholder’s meeting to approve the capital increase is expected to be held on or around 21 March 2018 and the first trading day of the newly issued shares is expected to be on or around the 28 March 2018.


MTS Securities, LLC is acting as the lead and institutional US placement agent in connection with the Placing. Herculis Partners SA, Kepler Cheuvreux SA, Octavian AG and Semper Finance Group SA are also acting as placement agents for Addex in the offering.

About Addex Therapeutics

Addex Therapeutics ( is a biopharmaceutical company focused on the development of novel, orally available, small molecule allosteric modulators for neurological disorders. 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. Addex's allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention - the Addex pipeline was generated from this pioneering allosteric modulator drug discovery platform. Addex's lead drug candidate, dipraglurant (mGluR5 negative allosteric modulator or NAM) has successfully completed a Phase 2a POC in Parkinson's disease levodopa-induced dyskinesia (PD-LID), and is being prepared to enter registration trials for PD-LID. In parallel, dipraglurant's therapeutic use in dystonia is being investigated. Addex's second clinical program, ADX71149 (mGluR2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for epilepsy. In addition, ADX71441 (GABAB receptor PAM) program was awarded a $5.3 million grant by the US National Institute on Drug Abuse (NIDA, a division of National Institutes of Health, NIH) to support human studies in cocaine addiction and has been licensed to Indivior PLC. Discovery programs include GABAB PAM for CMT1A neuropathy, mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM.


Press Contacts:

For Addex Therapeutics

Tim Dyer

Chief Executive Officer

Telephone: +41 22 884 15 61


Mike Sinclair

Partner, Halsin Partners

+44 (0)20 7318 2955


Disclaimer / Forward-looking statements: This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Addex Therapeutics Ltd. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.