Addex Executive Management Change
(Thomson Reuters ONE) -
Addex Pharmaceuticals / Addex Executive Management Change processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Geneva, Switzerland, 18 May 2010 - Allosteric modulation company Addex
Pharmaceuticals Ltd (SIX:ADXN) today announced the departure of Dr Emmanuel le
Poul, Head of the CNS Business Unit. Having been at Addex for 7 years, Dr Le
Poul intends to pursue other opportunities. Addex does not intend to replace him
in the short term.
"Since he took over the CNS Business Unit in 2008, he built up this department,
gave it stability and delivered remarkable scientific and development
milestones, which are highly recognized by the industry," said Dr Vincent Mutel,
CEO. ''Emmanuel has been a close collaborator and his creativity, commitment and
energy have helped to make Addex what it is today. I and the entire team at
Addex would like to thank him for his dedication and many contributions; we wish
him well in his future endeavors."
Dr. Mutel will resume responsibility of the CNS Business Unit, a position he
held prior to the promotion of Dr. Le Poul. As part of an ongoing streamlining
of the company, the Metabolic Disorders and Inflammation Business Units will be
combined under the management of Dr. Laurent Galibert, previously head of the
Inflammation Business Unit.
"Dr. Galibert's competencies and early success, in collaboration with our Core
Biology and Core Chemistry groups, in finding orally available small molecule
allosteric modulator inhibitors of TNF and IL-1 receptors gives us confidence
that the Metabolic Disorders Business Unit, which is optimizing orally available
allosteric modulators that activate the GLP-1 receptor, will benefit from his
leadership," Dr Mutel said.
Addex Pharmaceuticals (www.addexpharma.com
discovers and develops allosteric modulators for human health and is focused on
validated therapeutic targets for diseases of the central nervous system,
metabolic disorders and inflammation. Subject to the completion of Phase I
testing and regulatory approvals, Phase II clinical trials are expected to start
in 2010 in four indications for two lead products: ADX48621, an mGluR5 negative
allosteric modulator (NAM), in dystonia and Parkinson's disease levodopa-induced
dyskinesia (PD-LID); and ADX71149, an mGluR2 positive allosteric modulator
(PAM), in schizophrenia and anxiety. ADX71149 is licensed to
Ortho-McNeil-Janssen Pharmaceuticals, Inc. A third product, ADX71943, GABA-B
receptor PAM with potential for chronic pain, is scheduled to enter Phase I
testing around the end of 2010. In addition, Merck & Co., Inc. has licensed
rights to two preclinical products: mGluR4 PAM for Parkinson's disease and
mGluR5 PAM for schizophrenia. Additional preclinical discovery stage programs
include: mGluR2 NAM, GLP1R PAM, IL1R1 NAM and TNFR1 NAM. Roche Venture Fund and
SR-One, corporate venture arm of GlaxoSmithKline, are investors in Addex.
Chris Maggos
Investor Relations & Communications
Addex Pharmaceuticals
+41 22 884 15 11
chris.maggos(at)addexpharma.com
Disclaimer: The foregoing release may contain forward-looking statements that
can be identified by terminology such as "not approvable", "continue",
"believes", "believe", "will", "remained open to exploring", "would", "could",
or similar expressions, or by express or implied discussions regarding Addex
Pharmaceuticals Ltd, its business, the potential approval of its products by
regulatory authorities, or regarding potential future revenues from such
products. Such forward-looking statements reflect the current views of Addex
Pharmaceuticals Ltd regarding future events, future economic performance or
prospects, and, by their very nature, involve inherent risks and uncertainties,
both general and specific, whether known or unknown, and/or any other factor
that may materially differ from the plans, objectives, expectations, estimates
and intentions expressed or implied in such forward-looking statements. Such may
in particular cause actual results with allosteric modulators of mGluR2, mGluR4,
mGluR5, mGluR7 or other therapeutic targets to be materially different from any
future results, performance or achievements expressed or implied by such
statements. There can be no guarantee that allosteric modulators of mGluR2,
mGluR4, mGluR5, mGluR7 will be approved for sale in any market or by any
regulatory authority. Nor can there be any guarantee that allosteric modulators
of mGluR2, mGluR4, mGluR5, mGluR7 or other therapeutic targets will achieve any
particular levels of revenue (if any) in the future. In particular, management's
expectations regarding allosteric modulators of mGluR2, mGluR4, mGluR5, mGluR7
or other therapeutic targets could be affected by, among other things,
unexpected actions by our partners, unexpected regulatory actions or delays or
government regulation generally; unexpected clinical trial results, including
unexpected new clinical data and unexpected additional analysis of existing
clinical data; competition in general; government, industry and general public
pricing pressures; the company's ability to obtain or maintain patent or other
proprietary intellectual property protection. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated, believed, estimated
or expected. Addex Pharmaceuticals Ltd is providing the information in this
press release as of this date and does not undertake any obligation to update
any forward-looking statements contained in this press release as a result of
new information, future events or otherwise, except as may be required by
applicable laws.
[HUG#1416913]
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Addex Pharmaceuticals
12, chemin des Aulx Plan-les-Ouates; Geneva Switzerland
ISIN: CH0029850754;
English (pdf): http://hugin.info/138017/R/1416913/367450.pdf
Deutsch (PDF) : http://hugin.info/138017/R/1416913/367452.pdf
Français (PDF) : http://hugin.info/138017/R/1416913/367451.pdf
Unternehmensinformation / Kurzprofil:
Datum: 18.05.2010 - 18:30 Uhr
Sprache: Deutsch
News-ID 21099
Anzahl Zeichen: 0
contact information:
Town:
Plan-les-Ouates, Geneva
Kategorie:
Business News
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