Addex Awarded EuropaBio's Most Innovative SME Award
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Addex Pharmaceuticals /
Addex Awarded EuropaBio's Most Innovative SME Award
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Geneva, Switzerland, 10 December 2010 - Allosteric modulation company Addex
Pharmaceuticals (SIX:ADXN) announced today that the company has been awarded
EuropaBio's Most Innovative SME Award. This is the first time that the award has
been presented and it attracted applications by 32 companies from 12 countries
representing all sectors of the biotech industry.
"We are honored to be the first ever recipients of this new EuropaBio innovation
award. At Addex, we are building a sustainable business based on technology that
brings a new kind of chemistry to industrial drug discovery efforts. By
improving discovery productivity, a key bottleneck hindering the pharmaceutical
industry, we may be able to address some of key obstacles that have prevented
development of effective treatments for many diseases, including Parkinson's and
schizophrenia, for which our lead products are about to enter Phase II clinical
evaluation," explained Dr. Vincent Mutel, CEO of Addex.
"Addex showcases the critical role of European SMEs as a booster of knowledge
and understanding of the diseases that are still a major unmet medical need in
Europe. Addex has pioneered an extremely innovative solution to address
important therapeutic areas such as Parkinson's disease, schizophrenia,
endometriosis and benign prostatic hyperplasia," Andrea Rappagliosi, EuropaBio
Chairman said.
Dr. Mutel continued: "We are working in partnership with some of the largest
pharmaceutical companies, such as Merck & Co., Inc. and Johnson & Johnson, to
get our products through clinical evaluation and hopefully to patients. This
industry award provides additional validation and recognition of our innovative
approach."
Small molecule allosteric modulators represent an unexploited kind of chemistry
that is different from traditional small molecule drugs and which may compete
with protein-based drugs. Orally available allosteric modulators can offer
multiple competitive advantages over classical drugs - both small molecule and
protein therapeutics. Most importantly, they can be more specific for their
target receptor in the body, while at the same time, offering more precise
control over receptor function. They can do this because they bind to cell
surface receptors at a different site than traditional drugs. Although
allosteric binding sites offer greater control, molecules that bind them cannot
be identified using conventional high throughput screening techniques. Addex has
assembled an allostery-biased chemical library and proprietary high-throughput
screening assays, which make possible industrial scale discovery of allosteric
modulator drugs.
Addex Pharmaceuticals (www.addexpharma.com) discovers and develops allosteric
modulators for human health. The company is focused on using its proprietary
discovery platform to target cell surface receptors that are well recognized as
having therapeutic potential for treating diseases of the central nervous
system, metabolic disorders or inflammation. Subject to regulatory approvals,
several Phase II clinical trials are expected to start soon for two lead
products: ADX48621 and ADX71149. ADX48621 is an mGluR5 negative allosteric
modulator (NAM), which will be tested in Parkinson's disease levodopa-induced
dyskinesia (PD-LID) and, separately, non-Parkinsonian patients suffering from
dystonia, a movement disorder also observed in PD. ADX71149 is an mGluR2
positive allosteric modulator (PAM), which has potential for treatment of
schizophrenia, anxiety and other indications. ADX71149 is licensed to Ortho-
McNeil-Janssen Pharmaceuticals Inc., a subsidiary of Johnson & Johnson. Other
products nearing the clinic include: ADX71943, a GABA-B receptor PAM with
potential for chronic pain; and ADX68692, a follicle stimulating hormone
receptor (FSHR) NAM, with potential for endometriosis and benign prostatic
hyperplasia; and, mGluR2 NAM for Alzheimer's disease. In addition, Merck & Co.,
Inc. has licensed rights to two preclinical programs: mGluR4 PAM for Parkinson's
disease and mGluR5 PAM for schizophrenia. Preclinical discovery stage programs
include: GLP1R PAM; IL1R1 NAM; and TNFR1 NAM.
Chris Maggos
Business Development & Communication
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.
--- End of Message ---
Addex Pharmaceuticals
12, chemin des Aulx Plan-les-Ouates; Geneva Switzerland
ISIN: CH0029850754;
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Source: Addex Pharmaceuticals via Thomson Reuters ONE
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Datum: 10.12.2010 - 13:14 Uhr
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News-ID 49608
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