SOURCE: Addex Pharmaceuticals

February 18, 2011 10:20 ET

Addex Pharmaceuticals 2010 Financial Results Next Wednesday

PLAN-LES-OUATES GENEVA, SWITZERLAND--(Marketwire - February 18, 2011) - Addex Pharmaceuticals / Addex Pharmaceuticals 2010 Financial Results Next Wednesday Processed and transmitted by Thomson Reuters. The issuer is solely responsible for the content of this announcement.

Geneva, Switzerland, 18 February 2011 - Allosteric modulation company Addex Pharmaceuticals (SWISS: ADXN) will discuss its full-year 2010 financial results and the status of key products in development during a teleconference and webcast for investors, analysts and the media next Wednesday.

Title: Addex Full-Year 2010 Financial Results Conference Call

Date: February 23, 2011

Time: 16:00 CET (15:00 GMT/10:00 EST)


To participate, please listen to the webcast or call one of the following telephone numbers. RSVP is not necessary.

Dial-in numbers: +41 91 610 56 00 (Europe) +44 203 059 58 62 (UK) +1 866 291 4166 (USA)

The live webcast, slides, webcast replay and transcript, will be available at www.addexpharma.com.

Addex Pharmaceuticals (www.addexpharma.com) discovers and develops allosteric modulators for human health. The company uses its proprietary discovery platform to target cell surface receptors that are recognized as having therapeutic potential for treating diseases of the central nervous system, metabolic disorders or inflammation. 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. The PD-LID clinical trial is supported by a grant from the Michael J Fox Foundation. 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. In addition, Merck & Co., Inc. has licensed rights to two preclinical programs: mGluR4 PAM for Parkinson's disease and mGluR5 PAM for schizophrenia. Unpartnered products in preclinical testing include: follicle stimulating hormone receptor (FSHR) NAM, with potential for endometriosis and benign prostatic hyperplasia; mGluR2 NAM for Alzheimer's disease; and GABA-B receptor PAM with potential for chronic pain. Preclinical diabetes and inflammation discovery programs include GLP1R PAM, IL1R1 NAM, and TNFR1 NAM.

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.

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Addex Pharmaceuticals 12, chemin des Aulx Plan-les-Ouates; Geneva Switzerland

ISIN: CH0029850754;

Addex 2010 results invitation in pdf: http://hugin.info/138017/R/1490603/426265.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Addex Pharmaceuticals via Thomson Reuters ONE

[HUG#1490603]

Contact Information

  • Chris Maggos
    Business Development & Communication
    Addex Pharmaceuticals
    +41 22 884 15 11
    chris.maggos(at)addexpharma.com