Van Leeuwenhoeck Issues Initiation of Coverage Research Report on Addex Therapeutics and Estimated ADXN Share Price of CHF 11.5 per Share
Geneva, Switzerland, 18 October 2017 – Addex Therapeutics (SIX: ADXN) announced today that the independent life science research company Van Leeuwenhoeck has issued its initiation of coverage research report on Addex Therapeutics. The research report estimates a current risk-adjusted net present value (NPV) of CHF 11.5 per share (ADXN closing share price 17 October: CHF 2.10) based on Addex lead program dipraglurant in levodopa induced dyskinesia associated with Parkinson’s disease (PD-LID) and dystonia.
“Addex has made substantial progress in preparing dipraglurant for registration trials in levodopa induced dyskinesia associated with Parkinson’s disease and the recent FDA approval of a long acting formulation of amantadine for PD-LID provides a clear regulatory path for approval of dipraglurant,” commented Marcel Wijma, Chief Research Analyst at Van Leeuwenhoeck Institute. “In addition the pricing of recently approved PD medication at more than $20K per year reaffirms our belief that the market opportunity of dipraglurant is more than USD 2 billion in the US alone.”
The full analyst research report is available on www.leeuwenhoeck.com and on Addex website at www.addextherapeutics.com under Investors/downloads/analyst reports.
About Van Leeuwenhoeck Research and their research report
Van Leeuwenhoeck Institute, (“VLI”) is actively engaged in the financial research of life sciences companies in Europe, North America, Australia and emerging markets such as Asia and India. The VLI team conducts fundamental financial research, independently from any specific broker, bank, or investor. A select circle of top analysts assists the firm in conducting fundamental biotech research according to the highest standards. The team’s sector expertise, combined with an active network of well-respected scientists and biotech business analysts, adds value to VLI’s research. VLI provides institutional investors and other professional investors with independent, un-biased research on the real value of innovative Life Sciences companies.
About Addex Therapeutics
Addex Therapeutics (www.addextherapeutics.com) is a biopharmaceutical company focused on the development of novel, orally available, small molecule allosteric modulators for neurological disorders. Allosteric modulators are an emerging class of small molecule drugs which have the potential to be more specific and confer significant therapeutic advantages over conventional "orthosteric" small molecule or biological drugs. Addex's allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention - the Addex pipeline was generated from this pioneering allosteric modulator drug discovery platform. Addex's lead drug candidate, dipraglurant (mGluR5 negative allosteric modulator or NAM) has successfully completed a Phase 2a POC in Parkinson's disease levodopa-induced dyskinesia (PD-LID), and is being prepared to enter registration trials for PD-LID with support from the Michael J. Fox Foundation for Parkinson's Research (MJFF). In parallel, dipraglurant's therapeutic use in dystonia is being investigated with support from the Dystonia Medical Research Foundation (DMRF). Addex's second clinical program, ADX71149 (mGluR2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for epilepsy. In addition, ADX71441 (GABAB receptor PAM) has received regulatory approval to start Phase 1 and is being investigated for its therapeutic use in Charcot-Marie-Tooth Type 1A disease (CMT1A), cocaine and alcohol use disorder and nicotine dependence. Discovery programs include mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM.
Chief Executive Officer
Telephone: +41 22 884 15 61
Disclaimer / Forward-looking statements: This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Addex Therapeutics Ltd. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.