Addex mGlu2 NAM Cognition Program Receives €4 Million Grant
September 20 2023 - 1:00AM
Addex mGlu2 NAM Cognition Program Receives €4 Million Grant
- Addex led
consortium wins Eurostars grant
to deliver clinical candidates
to treat mild
neurocognitive
disorders
Ad Hoc Announcement Pursuant to
Art. 53 LR
Geneva, Switzerland,
September 20,
2023 - Addex
Therapeutics (SIX and Nasdaq: ADXN), a clinical-stage
pharmaceutical company pioneering allosteric modulation-based drug
discovery and development, today announced that it has led a
consortium which has been awarded a €4 million Eurostars grant to
support its metabotropic glutamate 2 (mGlu2) receptor negative
allosteric modulator (NAM) program for mild neurocognitive disorder
(mNCD). The project, named COGNI+, has been awarded the grant to
deliver clinical candidates ready for IND enabling studies. The
consortium includes Naason Science (South Korea), BioAxis Research
(Netherlands), Pharmidex Pharmaceutical Services (UK) and Stichting
Radboud Universiteit (Netherlands).
“Our mGlu2 NAM program has made significant
advances in our understanding of the function of mGlu2 receptors
and their role played in neuronal processes involved in cognition.
Representative compounds of our unique and highly mGlu2-selective
chemical series have demonstrated groundbreaking proof of principle
in preclinical models of mild neurocognitive disorders,” said
Robert Lütjens, Head of Discovery Biology at Addex. “We are
delighted to have brought together this team of partners, each with
complementary expertise, to expedite lead optimization and progress
multiple compounds through the clinical candidate selection phase
as swiftly as possible in pursuit of identifying a potential lead
drug candidate.”
“This Eurostars grant is another example of how
we are successfully securing non-dilutive funding to advance our
portfolio of exciting first or best in class allosteric modulator
programs,” said Tim Dyer, CEO of Addex. “As a reminder, our
ADX71149 epilepsy program is on track to report Phase 2 data in Q2
2024 and we continue to make solid progress toward achieving other
strategic objectives, including securing industry partners for
certain programs.”
About mGlu2
NAMGlutamate is the primary excitatory neurotransmitter in
the brain, and alterations in its release, receptor function, or
signaling pathways can have profound effects on cognitive
processes. Inhibition of ionotropic glutamate receptors (NMDA &
AMPA) has been shown to impair cognition, while their activation as
a strategy to enhance cognition has been hampered by challenges
linked to adverse effects. The mGlu2 receptor is expressed in the
brain on presynaptic nerve terminals where it modulates glutamate
release, helping to maintain the balance of excitatory
neurotransmission. Selective inhibition of mGlu2 receptors may
therefore represent a different approach to increase glutamatergic
tone, devoid of adverse effects linked to direct ionotropic
receptor activation. Addex has made significant investment and
progress in developing novel mGlu2 NAMs that possess high brain
penetration and will selectively modulate the mGlu2 receptors only.
These characteristics are significant improvements compared to
traditional, orthosteric inhibitors, which are poorly selective for
glutamate receptors and necessitate development of prodrugs to
allow delivery to the brain, significantly increasing the cost of
goods.
About mNCDmNCD
is a state of moderate cognitive decline leading to a lower
quality-of-life, loss of autonomy and often dementia and associated
psychiatric symptoms (depression, anxiety). It affects
approximately 15% of the population over 60 years of age and is
associated with a high societal impact, including loss of working
hours, productivity, and caregiver burden. Current therapeutic
approaches are not widely used due to their lack of efficacy and
many side effects. With no specific therapeutic interventions
available for mNCD, there is a strong medical need for new
approaches that halt cognitive decline in these patients.
About Addex
Therapeutics: Addex Therapeutics is a
clinical-stage pharmaceutical company focused on the discovery and
development of an emerging class of novel orally available, small
molecule drugs known as allosteric modulators for neurological
disorders. Allosteric modulators offer several potential advantages
over conventional, non-allosteric molecules and may offer an
improved therapeutic approach to 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. Addex's lead
drug candidate, ADX71149 (mGlu2 positive allosteric modulator or
PAM), developed in collaboration with Janssen Pharmaceuticals,
Inc., is in a Phase 2 clinical trial for the treatment of epilepsy
and data is expected in Q2 2024. Addex's second clinical program,
dipraglurant (mGlu5 negative allosteric modulator or NAM), is under
preclinical evaluation for future development in post-stroke
recovery. Indivior PLC has licensed Addex’s GABAB PAM program for
the development of drug candidates, with a focus on substance use
disorder. Addex is also advancing a broad preclinical pipeline,
which includes development of a range of GABAB PAMs for cough, M4
PAM for schizophrenia and other forms of psychosis, mGlu7 NAM for
stress related disorders and mGlu2 NAM for mild neurocognitive
disorders. Addex shares are listed on the SIX Swiss Exchange and
American Depositary Shares representing its shares are listed on
the NASDAQ Capital Market, and trade under the ticker symbol "ADXN"
on each exchange.
Contacts:
Tim Dyer Chief Executive Officer Telephone: +41 22 884 15
55 PR@addextherapeutics.com |
Mike Sinclair Partner, Halsin Partners +44 (0)7968
022075 msinclair@halsin.com |
Addex Forward Looking
Statements: This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including
statements about the intended use of proceeds of the offering. The
words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,”
“anticipate,” “intend,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “target” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements in this press
release, are based on management's current expectations and beliefs
and are subject to a number of risks, uncertainties and important
factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, uncertainties related to market conditions. These and
other risks and uncertainties are described in greater detail in
the section entitled “Risk Factors” in Addex Therapeutics’ Annual
Report on Form 20-F for the year ended December 31, 2022, as filed
with the SEC on March 30, 2023, the final prospectus supplement and
accompanying prospectus and other filings that Addex Therapeutics
may make with the SEC in the future. Any forward-looking statements
contained in this press release represent Addex Therapeutics’ views
only as of the date hereof and should not be relied upon as
representing its views as of any subsequent date. Addex
Therapeutics explicitly disclaims any obligation to update any
forward-looking statements.
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