Geneva, Switzerland, 12 November 2010 – Allosteric modulation company Addex Pharmaceuticals (SIX:ADXN) announced today that data on a total of nine therapeutic programs will be presented during Society for Neuroscience 2010 (November 13-17, San Diego, USA), highlighting the strength of its allosteric modulation technology platform. The data being presented cover multiple receptor types and therapeutic areas, including Parkinson’s disease, schizophrenia, anxiety, Alzheimer’s disease and depression.

“The data generated by Addex and our partners, Ortho-McNeil-Janssen and Merck & Co., being presented at the Society for Neuroscience 2010 conference illustrate the power of our allosteric modulation product generating engine. Although the targets we are addressing have been pursued for many years with standard discovery technologies, most have proven elusive,” explained Dr. Vincent Mutel, CEO of Addex. “Our technology is allowing us to bring a new kind of chemistry to industrial drug discovery efforts and thereby improve discovery productivity, a key bottleneck hindering the pharmaceutical industry. Beyond our presentations at Society for Neuroscience this year, we have recently demonstrated our ability to expand our discovery technology beyond GPCRs, like glutamate receptors, to cover other types of cell surface receptors, such as cytokine receptors, including TNF receptors. In addition to advancing our own molecules, we will look to sign multiple collaborative partnerships to realize the potential of our platform.”

Small molecule allosteric modulators represent an unexploited kind of chemistry which is different from the traditional small molecule drugs. Orally available allosteric modulators can offer multiple competitive advantages over classical drugs. Most importantly, they can be more specific for their target receptor in the body, while at the same time, offering more precise control over receptor function. They can do this because they bind to cell surface receptors at a different site than traditional drugs. Although allosteric binding sites offer greater control, molecules that bind them cannot be identified using conventional high throughput screening techniques.

Society for Neuroscience 2010 Presentations

Sun, Nov 14, 8:00 - 9:00 AM
162.9/V17 - Novel triazinedione derivatives as GABAB receptor positive allosteric modulators: Synthesis, in vitro pharmacological characterization, pharmacokinetic profile and in vivo activity in rodent model of anxiety

Mon, Nov 15, 8:00 - 9:00 AM
406.9/MMM57 - An mGluR2/3 negative allosteric modulator improves recognition memory assessed by natural forgetting in the novel object recognition test in the rat

Mon, Nov 15, 2:00 - 3:00 PM
514.14/OOO34 - Validating the role of mGluR4 receptors in the physiopathology of anxiety using a selective mGluR4 positive allosteric modulator

Tue, Nov 16, 11:00 AM - 12:00 PM
557.12/M18 - Anti-parkinsonian and anti-dyskinetic effects of ADX48621, a novel mGlu5 negative allosteric modulator

Tue, Nov 16, 1:00 - 2:00 PM
642.5/E29 - JNJ-40068782: A novel potent, selective and systemically active positive allosteric modulator of the mGlu2 receptor

Tue, Nov 16, 2:00 - 3:00 PM
643.22/F23 - Identification and characterization of radioligands that bind to an allosteric modulator site on the mGlur4 receptor

Tue, Nov 16, 3:00 - 4:00 PM
651.15/I6 - Selective mGluR2 negative allosteric modulators reverse the scopolamine-induced deficit in the novel object recognition test

Wed, Nov 17, 2:00 - 3:00 PM
886.14/VV7 - Effects of a mGluR2/3 negative allosteric modulator and a reference mGluR2/3 orthosteric antagonist in a genetic mouse model of depression

Wed, Nov 17, 3:00 - 4:00 PM
885.11/TT19 - Development of a cAMP BRET cellular HTS assay to characterize pharmacological properties of mGluR7 ligands

Addex Pharmaceuticals (www.addexpharma.com) discovers and develops allosteric modulators for human health. The company is focused on using its proprietary discovery platform to target cell surface receptors that are well recognized as having therapeutic potential for treating diseases of the central nervous system, metabolic disorders or inflammation. Subject to regulatory approvals, 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. 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. Other products nearing the clinic include: ADX71943, a GABA-B receptor PAM with potential for chronic pain; and ADX68692, a follicle stimulating hormone receptor (FSHR) NAM, with potential for endometriosis and benign prostatic hyperplasia; and, mGluR2 NAM for Alzheimer’s disease. In addition, Merck & Co., Inc. has licensed rights to two preclinical programs: mGluR4 PAM for Parkinson's disease and mGluR5 PAM for schizophrenia. Preclinical discovery stage programs include: GLP1R PAM; IL1R1 NAM; and TNFR1 NAM.

Chris Maggos
Investor Relations & Communications
Addex Pharmaceuticals
+41 22 884 15 11
chris.maggos(at)addexpharma.com

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.