Laurent Massuyeau, Head of Business Development, Resigns
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Geneva, Switzerland, 17 September 2009 - Addex Pharmaceuticalsannounces the resignation of Laurent Massuyeau, head of businessdevelopment and member of the executive management, effective today.CEO Vincent Mutel said, "We thank Mr. Massuyeau for his efforts."Addex Pharmaceuticals (www.addexpharma.com) discovers and developsallosteric modulators for human health. Allosteric modulators are adifferent kind of orally available small molecule therapeutic agent,which we believe will offer a competitive advantage over classicaldrugs. Our lead allosteric modulator product, ADX10059, has achievedclinical proof of concept and is in Phase IIb testing for thetreatment of GERD and, separately, migraine headache. ADX10059 is afirst-in-class mGluR5 inhibitor, a therapeutic strategy that also isbeing pursued in multiple indications by large pharma competitors.Our products and technology already have proven their value throughour relationships with four of the top 10 pharmaceutical companies inthe world. Specifically, under an agreement with Ortho-McNeil-JanssenInc., a Johnson & Johnson company, ADX71149, a positive allostericmodulator (PAM) of mGluR2, is undergoing Phase I clinical testing andhas potential for treatment of schizophrenia and anxiety. Under twoseparate agreements with Merck & Co., Inc., we are developing PAMs ofmGluR4 and mGluR5 as drugs to treat Parkinson's disease andschizophrenia, respectively. In addition, GlaxoSmithKline and Rochehave made equity investments in Addex.Chris MaggosHead of IR & CommunicationsAddex Pharmaceuticals+41 22 884 15 11chris.maggos(at)addexpharma.comDisclaimerThe foregoing release contains forward-looking statements that can beidentified by terminology such as "not approvable", "continue","believes", "believe", "will", "remained open to exploring", "would","could", or similar expressions, or by express or implied discussionsregarding Addex Pharmaceuticals Ltd, its business, the potentialapproval of its products by regulatory authorities, or regardingpotential future revenues from such products. Such forward-lookingstatements reflect the current views of Addex Pharmaceuticals Ltdregarding future events, and involve known and unknown risks,uncertainties and other factors that may cause actual results withallosteric modulators of mGluR4, mGluR2, mGluR5 or other therapeutictargets 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 mGluR4,mGluR2 or mGluR5 will be approved for sale in any market or by anyregulatory authority. Nor can there be any guarantee that allostericmodulators of mGluR4, mGluR2, mGluR5 or other therapeutic targetswill achieve any particular levels of revenue (if any) in the future.In particular, management's expectations regarding allostericmodulators of mGluR4, mGluR2, mGluR5 or other therapeutic targetscould be affected by, among other things, unexpected actions by ourpartners, unexpected regulatory actions or delays or governmentregulation generally; unexpected clinical trial results, includingunexpected new clinical data and unexpected additional analysis ofexisting clinical data; competition in general; government, industryand general public pricing pressures; the company's ability to obtainor maintain patent or other proprietary intellectual propertyprotection. Should one or more of these risks or uncertaintiesmaterialize, or should underlying assumptions prove incorrect, actualresults may vary materially from those anticipated, believed,estimated or expected. Addex Pharmaceuticals is providing theinformation in this press release as of this date and does notundertake any obligation to update any forward-looking statementscontained in this press release as a result of new information,future events or otherwise. --- End of Message ---Addex Pharmaceuticals12, chemin des Aulx Plan-les-Ouates, Geneva SwitzerlandISIN: CH0029850754; Index: SLIFE, SPI, SPIEX, SSCI;Listed: Main Market in SIX Swiss Exchange;
Datum: 17.09.2009 - 07:00 Uhr
Sprache: Deutsch
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