SOURCE: Addex Pharmaceuticals

July 18, 2008 09:56 ET

Addex First Half 2008 Financial Results Monday, July 28

GENEVA, SWITZERLAND--(Marketwire - July 18, 2008) - Addex Pharmaceuticals Ltd. (SWISS: ADXN) will discuss its financial results for the first half of 2008 and give a pipeline update during a teleconference and webcast for investors, analysts and the media on Monday, July 28 at 16:00 CET.

Conference Call

Title: Addex First Half 2008 Financial Results Conference Call

Date:              28 July 2008
Time:              16:00 CET
Dial-in numbers:   +41 91 610 56 00 (Europe)
                   +44 207 107 0611 (UK)
                   +1 866 291 4166  (USA)

The live webcast and slides (and the webcast replay and transcript) will be available at www.addexpharma.com.

About Us

Addex Pharmaceuticals discovers and develops allosteric modulators for human health. Allosteric modulators are an emerging class of orally available small molecule therapeutic agents that we believe will offer patients better results than classical drugs. Most marketed drugs bind receptors where the body's own natural molecular activators (i.e. endogenous ligands) bind, specifically to a key part of each receptor's anatomy called the "active site". In short, most drugs must out-compete endogenous ligands for the active site. By contrast, allosteric modulators are non-competitive because they bind receptors at a separate site and modify their function even if the endogenous ligand also is binding the active site. In addition, because of this, allosteric modulators aren't limited to simply turning a receptor on or off, the way most drugs are. Instead, they act more like a dimmer switch, offering control over the degree of activation or deactivation, while offering the body the ability to maintain control over initiating receptor activation. Importantly, the allosteric approach generally affords freedom to operate -- even on well-known, clinically validated targets -- because the intellectual property surrounding allosteric chemistry and the allosteric sites on receptors is most often un-exploited.

ADX10059, our most advanced product, is a negative allosteric modulator (NAM) of metabotropic glutamate receptor 5 (mGluR5). It has demonstrated clinically and statistically significant efficacy in separate Phase IIa clinical trials in gastroesophageal reflux disease (GERD) patients and migraine headache patients.

Our products and the Addex allosteric modulation discovery and development platform have been additionally validated through collaborations with Merck & Co., Inc. and Johnson & Johnson as well as investments by Roche Ventures and SR One, the venture investment arm of GlaxoSmithKline.

Disclaimer

The foregoing release contains 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, and involve known and unknown risks, uncertainties and other factors that may cause actual results with allosteric modulators of mGluR4, mGluR2 or mGluR5 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 any regulatory authority. Nor can there be any guarantee that allosteric modulators of mGluR4, mGluR2 or mGluR5 will achieve any particular levels of revenue (if any) in the future. In particular, management's expectations regarding allosteric modulators of mGluR4, mGluR2 or mGluR5 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 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.

Contact Information