Addex Therapeutics Equity Research Report Update Issued by valuationLAB

Report estimates a current value of ADXN of CHF 12.5 per share

Geneva, Switzerland, 8 January 2018 – Addex Therapeutics (SIX: ADXN) announced today that the independent life science equity research firm, valuationLAB AG has issued an equity research report on the Company that estimates a current risk-adjusted NPV (net present value) of CHF 12.5 per share (ADXN closing price 5 January: CHF3.65).


The valuationLAB current valuation is based only on dipraglurant for Parkinson’s disease levodopa-induced dyskinesia (PD-LID) and non-parkinsonian dystonia. The valuationLAB report also provides detailed analysis of significant upside in the current valuation should Addex successfully execute on its strategy to advance dipraglurant for PD-LID and dystonia. The report also highlights the recent success of Addex to secure strategic partner, Indivior PLC, to accelerate the development of ADX71441 in addiction, while allowing Addex the right to retain compounds from a funded research program for development in CMT1A neuropathy. Furthermore, both ADX71441 partnered with Indivior and ADX71149 partnered with Janssen Pharmaceuticals Inc., provide further upside to the valuationLAB current valuation.


“We see huge unlocked value in the Addex portfolio, which has been built over the last ten plus years with more than CHF300 million of invested capital,” commented Bob Pooler, Senior Healthcare Analyst at valuationLAB. “Addex’s strategy to focus on rare neurological disorders and secure strategic partners while also accessing nondilutive funding from governmental organisations and patient advocacy groups has the promise to unlock significant value for shareholders.”


PD-LID is the most important unmet medical need after a disease-modifying agent for Parkinson’s disease and was recently classified as an orphan indication by the US FDA. With the support of The Michael J. Fox Foundation for Parkinson’s research (MJFF), Addex has prepared dipraglurant to start pivotal registration studies. The valuationLAB report estimates peak sales of USD 2 billion for dipraglurant as a treatment for PD-LID.


“We believe this analyst report provides useful guidance to the investment community on the Addex investment case as we execute on our strategy to unlock the value of the Addex portfolio through collaborations,” commented Tim Dyer, CEO of Addex. “The recent strategic partnership with Indivior to accelerate the development in addiction, the grant from NIDA to fund ADX71441 through phase 1 and the grant from MJFF to advance our TrkB PAM program are in line with this strategy.”   


The full analyst research report is available on and on Addex website at under Investors/downloads/analyst reports.


About valuationLAB and their research report

valuationLAB AG is an independent life science research boutique with no securities or banking services. The company does not hold any positions in the securities mentioned in its reports. Its financial analyses are based on the Directives on the Independence of Financial Research issued by the Swiss Bankers Association in January 2008. valuationLAB’s aim is to translate complicated scientific/clinical data into easy-to-understand financial forecasts and valuations for investors. Valuations are based on tailor-made, detailed, bottom-up research from publicly available sources. The Addex Valuation Report has been commissioned by Addex Therapeutics Ltd. and prepared and issued by valuationLAB AG. The analyst views and expectations were made independently and as such do not necessarily reflect those of Addex


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, with support from the Michael J. Fox Foundation for Parkinson's Research (MJFF). In parallel, dipraglurant's therapeutic use in dystonia is being investigated with support from the Dystonia Medical Research Foundation (DMRF). 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 is being developed in collaboration with  Indivior PLC. Discovery programs include mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM that are being advanced with the support of the MJFF and Swiss Commission for Innovation and Technology (CTI).


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.