Geneva, Switzerland, 22 November 2018 – Addex Therapeutics (SIX: ADXN), a leading company pioneering allosteric modulation-based drug discovery and development, announced today that the independent life science equity research company, Van Leeuwenhoeck, has issued an equity research report highlighting the Addex investment opportunity. Following a pharma deal and CHF40 million capital increase earlier this year, and a pipeline of mid- to late-stage clinical candidates, analyses in the report notes a current significant undervaluation of Addex, which is trading currently at a CHF67 million market capitalization. In particular, with registrational studies of dipraglurant for dyskinesia associated with Parkinson’s disease scheduled to begin in H2 2019, they believe the share price should see significant appreciation from its current level of CHF2.35 per share towards their price target of CHF14 per share.
“We believe Addex’s recent financing and deal-making has remained under the radar of most investors which explains why the company is grossly undervalued, particularly as the clinical pipeline is well-financed through to pivotal data,” said Marcel Wijma, Chief Research Analyst at Van Leeuwenhoeck Institute. “Added to this, Addex has a world leading position in allosteric modulation and broad pipeline, which was recently validated by a preclinical CNS pharma deal, leads us to recommend that Addex provides an exceptional investment opportunity for investors.”
The full analyst research report is available on www.leeuwenhoeck.com and on Addex website at https://www.addextherapeutics.com/en/investors/downloads/.
About Van Leeuwenhoeck Research
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' allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention - the Addex pipeline has been 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. In parallel, dipraglurant's therapeutic use in dystonia is being investigated. 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) program was awarded a $5.3 million grant by the US National Institute on Drug Abuse (NIDA, a division of National Institutes of Health (NIH)) to support human studies in cocaine addiction and has been licensed to Indivior. Discovery programs include mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM.
Press Contacts:
For Addex Therapeutics
| Tim Dyer Chief Executive Officer Telephone: +41 22 884 15 55 Email: PR@addextherapeutics.com | Mike Sinclair Partner, Halsin Partners +44 (0)20 7318 2955 msinclair@halsin.com |
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.