SOURCE: Addex Pharmaceuticals

March 28, 2008 02:08 ET

Addex Pharmaceuticals R&D Day on April 24

GENEVA, SWITZERLAND--(Marketwire - March 28, 2008) -


Addex 2007 Annual Report Now Available

Geneva, Switzerland, 28 March 2008 - Addex Pharmaceuticals (SWX: ADXN) invites investors, analysts and media to attend its first R&D day on Thursday, April 24, 2008 in Geneva, Switzerland.

We will discuss the status and development plans for our lead product, ADX10059, new developments for other products and several additions to our pipeline, which are being announced today for the first time. We also will discuss the organization of our allosteric modulator discovery and development platform and give some insight into its functioning.

Interested parties are encouraged to attend in person. The presentations will commence at 11:30 CET. Please email investor.relations@addexpharma.com or media.relations@addexpharma.com for more informtion.

The Addex R&D Day presentations, related question and answer sessions and supporting documents will be webcast live and made available thereafter via www.addexpharma.com.

The Addex 2007 Annual Report is available at: www.addexpharma.com/investors/downloads-webcasts/. Hard copies can be requested via the email addresses above.

Pipeline Update

Addex announced today for the first time that its second most advanced product, ADX48621, will be developed as a potential treatment for dyskinesia associated with L-DOPA therapy in Parkinson's disease patients. This decision was taken on the basis of available preclinical data and the company's own undisclosed work. Addex also disclosed for the first time the targets of two early stage negative allosteric modulator (NAM) programs: a metabotropic glutamate receptor 7 (mGluR7) NAM program with potential for treatment of depression and post traumatic stress disorder (PTSD); and an mGluR2 NAM program with potential for treatment of Alzheimer's disease and depression. Further, the Company disclosed today that it has four additional programs in the hit-to-lead stage of discovery for glaucoma, type II diabetes, obesity and migraine headaches. For competitive reasons, the G protein coupled receptor (GPCR) targeted by each of these programs is undisclosed.

+-------------------------------------------------------------------+
| Partner   | Product       | Indication(s)          | Status       |
|           | (mechanism)   |                        |              |
|-----------+---------------+------------------------+--------------|
|           | ADX10059      | Gastroesophageal       | Phase    IIa |
|           | (mGluR5 NAM)  | reflux disease (GERD)  | complete     |
|-----------+---------------+------------------------+--------------|
|           | ADX10059      | Migraine               | Phase    IIa |
|           | (mGluR5 NAM)  |                        | complete     |
|-----------+---------------+------------------------+--------------|
|           | ADX48621      | Dyskinesia, depression | Phase      I |
|           | (mGluR5 NAM)  | & anxiety              | ongoing      |
|-----------+---------------+------------------------+--------------|
|           | ADX71943      | GERD,          urinary | Preclinical  |
|           | (GABAB PAM)   | incontinence, pain     |              |
|-----------+---------------+------------------------+--------------|
|           | ADX68693      | Contraception,         | Preclinical  |
|           | (FSHR NAM)    | osteoporosis           |              |
|-----------+---------------+------------------------+--------------|
| Merck   & | ADX63365      | Schizophrenia,         | Preclinical  |
| Co., Inc. | (mGluR5 PAM)  | undisclosed            |              |
|           |               | indications            |              |
|-----------+---------------+------------------------+--------------|
| Johnson & | mGluR2 PAM    | Anxiety, schizophrenia | Lead         |
| Johnson   |               |                        | optimization |
|-----------+---------------+------------------------+--------------|
| Merck   & | mGluR4 PAM    | Parkinson's   disease, | Lead         |
| Co., Inc. |               | undisclosed            | optimization |
|           |               | indications            |              |
|-----------+---------------+------------------------+--------------|
|           | GLP-1R PAM    | Type II diabetes       | Lead         |
|           |               |                        | optimization |
|-----------+---------------+------------------------+--------------|
|           | mGluR7 NAM    | Depression,            | Lead         |
|           |               | post-traumatic  stress | optimization |
|           |               | disorder               |              |
|-----------+---------------+------------------------+--------------|
|           | mGluR2 NAM    | Alzheimer's   disease, | Lead         |
|           |               | depression             | optimization |
|-----------+---------------+------------------------+--------------|
|           | Not disclosed | Glaucoma               | Hit-to-lead  |
|-----------+---------------+------------------------+--------------|
|           | Not disclosed | Type II diabetes       | Hit-to-lead  |
|-----------+---------------+------------------------+--------------|
|           | Not disclosed | Obesity                | Hit-to-lead  |
|-----------+---------------+------------------------+--------------|
|           | Not disclosed | Migraine               | Hit-to-lead  |
+-------------------------------------------------------------------+



























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. Contacts

Chris Maggos
Head of IR & Communications
Addex Pharmaceuticals
+41 22 884 15 11
chris.maggos@addexpharma.com


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 mGluR2, mGluR4, mGluR5, mGluR7, GABAB, FSHR, GLP-1R 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, GABAB, FSHR, GLP-1R or other therapeutic targets 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, GABAB, FSHR, GLP-1R 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, GABAB, FSHR, GLP-1R 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 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.





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