SOURCE: Addex Pharmaceuticals
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March 17, 2008 02:21 ET
Addex Pharmaceuticals -- Disclosure of Shareholdings in Accordance With Stock Market Rules
GENEVA, SWITZERLAND--(Marketwire - March 17, 2008) - Addex Pharmaceuticals (SWX: ADXN)
announced today that on March 13, 2008, The Swiss Helvetia Fund, Inc. 1270
Avenue of the Americas, Suite 400, New York, NY 10020, U.S.A., has informed
of exceeding the threshold of 3% in the shareholding of Addex
Pharmaceuticals Ltd., holding a total of 288,360 registered shares,
corresponding to 4.92% of the voting rights.
About Addex
Addex Pharmaceuticals discovers and develops allosteric modulators, an
emerging class of small molecule therapeutic agents. Allosteric modulation
may offer more sophisticated ways to normalize biological signaling
compared to classical orthosteric agonist or antagonist drugs. Allosteric,
literally translated from its Greek roots, means: other site. Thus,
allosteric modulators bind receptors at sites that are distinct from the
binding sites of classical small molecule orthosteric agonist and
antagonist drugs.
The most advanced drug candidate, ADX10059, a negative allosteric modulator
(NAM) of metabotropic glutamate receptor 5 (mGluR5), recently demonstrated
clinically and statistically significant efficacy in separate Phase IIa
clinical trials in gastroesophageal reflux disease (GERD) patients and
migraine headache patients.
The Addex allosteric modulation discovery and development platform has been
additionally validated through collaborations with Merck & Co., Inc. and
Johnson & Johnson.
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.