Geneva, Switzerland, 24 September 2019 -- Addex Therapeutics Ltd (SIX: ADXN) (the Company), a leading company pioneering allosteric modulation-based drug discovery and development, today announced it has confidentially submitted a draft registration statement on Form F-1 to the United States Securities and Exchange Commission (SEC) in connection with a proposed listing of American Depositary Shares (ADSs) representing the Company's shares on the Nasdaq Stock Market (Nasdaq). The registration statement was submitted to facilitate the creation of a trading market in the United States for ADSs representing the Company's shares and in satisfaction of Addex’s obligations under a registration rights agreement entered into with investors who participated in the Company's March 2018 private placement. The Company is not proposing to register any new issuance of securities. The registration statement is subject to ongoing review by the SEC, and the proposed listing of ADSs representing the Company's shares is subject to approval by Nasdaq. The Company's shares will continue to be admitted to trading on SIX Swiss Exchange.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, 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. This document does not constitute a prospectus according to art. 652a or art. 1156 of the Swiss Code of obligations or art. 27 et seq. of the Swiss Exchange Listing Rules.
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 that 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 has been generated from this pioneering allosteric modulator drug discovery platform. Addex's lead drug candidate, dipraglurant (mGlu5 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 (mGlu2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for epilepsy. In addition, Addex’s GABAB PAM program has been licensed to Indivior PLC for the treatment of addiction. Discovery programs include GABAB PAM for CMT1A, mGlu7 NAM for PTSD, mGluR2 NAM for mild neurocognitive disorders, mGluR4 PAM for Parkinson’s disease and mGlu3 PAM for neurodegenerative disorders.
Chief Executive Officer
Telephone: +41 22 884 15 55
Partner, Halsin Partners
+44 (0)20 7318 2955
This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended. This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Forward Looking Statements
Certain statements made in this announcement are forward-looking statements including with respect to the creation of a trading market for ADSs representing the Company's shares in the United States. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including if the Company's registration statement is not declared effective by the SEC or if Nasdaq fails to approve the Company's ADS listing application. The Company cautions securityholders and prospective securityholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.