Addex Therapeutics Ltd. (NASDAQ:ADXN) is a clinical-stage biopharmaceutical company based in Geneva, Switzerland, specializing in the discovery and development of oral small-molecule allosteric modulators to treat central nervous system disorders and other diseases with high unmet medical need. Founded on the pioneering concept of allosteric modulation, Addex has built a proprietary drug discovery platform that targets G-protein coupled receptors through a differentiated scientific approach that allows for finely tuned control of receptor activity. Rather than directly activating or inhibiting receptors through orthosteric binding like traditional drugs, Addex’s allosteric modulators bind to distinct regulatory sites, offering the potential for improved efficacy, enhanced safety, and reduced side effects. This next-generation approach has positioned the company as a global leader in the field of neurologically focused drug development.
Over the years, Addex has advanced a diverse pipeline targeting major neurological and psychiatric conditions including Parkinson’s disease levodopa-induced dyskinesia, chronic cough, substance use disorders, epilepsy, and traumatic brain injury recovery. Its lead drug candidates include dipraglurant, a negative allosteric modulator of the metabotropic glutamate receptor 5 (mGlu5), and ADX71149, a positive allosteric modulator of the mGlu2 receptor. Both drug candidates are designed to correct dysfunctional neurotransmission in diseases where current therapies often provide inadequate relief or cause significant adverse effects. These programs are based on decades of research showing that modulation of glutamate and GABA signaling plays a central role in restoring nervous system balance in degenerative and neuroinflammatory diseases.
Addex’s strategic vision has been reinforced through partnerships and collaborations with global pharmaceutical companies, academic institutions, and research organizations. The company recently regained full global rights to ADX71149, providing it with greater flexibility to advance development internally or enter into new licensing agreements. Its GABAB positive allosteric modulator program, being advanced in collaboration with Indivior, has demonstrated strong preclinical and IND-enabling data in substance use disorders, supporting Addex’s position at the forefront of therapeutic innovation in addiction medicine. The company also entered into an option agreement with Sinntaxis to expand its intellectual property portfolio in brain injury recovery, further strengthening its leadership in allosteric modulation across multiple therapeutic areas.
Despite operating with a lean financial structure, Addex continues to move multiple drug candidates forward with strategic efficiency. The company reported a cash position of CHF 2.3 million as of the end of the first half of 2025, reflecting disciplined cost management and focused investment in high-value assets. Its commitment to innovation was further demonstrated through its investment in Stalicla SA, a precision medicine company targeting neurodevelopmental and neuropsychiatric disorders, aligning Addex with future breakthroughs in personalized CNS treatment.
Rooted in scientific excellence and driven by a mission to develop transformative therapies for patients suffering from debilitating neurological diseases, Addex Therapeutics has established itself as a key innovator in the global biotechnology industry. As it advances toward late-stage clinical development and pursues additional partnerships, the company is strategically positioned to unlock substantial value and potentially reshape the treatment landscape for complex central nervous system disorders.
A Next-Generation Platform Built on Allosteric Modulation
The scientific foundation of Addex lies in its ability to design drugs that bind to receptor sites distinct from traditional active sites. By modulating receptor function instead of directly competing with endogenous ligands, Addex’s platform is engineered to restore physiological balance in diseases driven by neurological dysfunction. This breakthrough approach enables the development of orally available treatments that can significantly reduce side effects while maintaining clinical efficacy, supporting long-term patient adherence and better quality of life.
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Advancing a Diversified Pipeline in High-Value Neurological Indications
Addex is advancing a portfolio targeting conditions such as chronic cough, Parkinson’s disease levodopa-induced dyskinesia, substance use disorders, traumatic brain injury recovery, and epilepsy. The company’s GABAB positive allosteric modulator program has demonstrated robust anti-tussive activity in validated preclinical models and is progressing toward late-stage development. Another key asset is the mGlu2 positive allosteric modulator ADX71149, for which Addex has regained global rights, creating new potential for internal advancement or strategic partnerships. Additionally, the company’s mGlu5 negative allosteric modulator, dipraglurant, is being developed for neurological recovery following brain injury under an exclusive option agreement with Sinntaxis.
Strategic Collaborations and Industry Validation
Addex has strengthened its credibility and financial optionality through partnerships with leading pharmaceutical companies such as Indivior, which has successfully advanced a GABAB PAM candidate through IND-enabling studies for substance use disorders. Furthermore, Addex expanded its innovation exposure by investing in Stalicla SA, a precision medicine leader in neurodevelopmental disorders. These collaborations validate the commercial potential of Addex’s technology and position the company to monetize its assets through licensing, co-development, or acquisition agreements.
Financial Efficiency and Focused Investment Strategy
For the first half of 2025, Addex reported a cash position of CHF 2.3 million while demonstrating prudent cost management. R&D and general administrative expenses declined year-over-year, reflecting disciplined capital allocation. Although the company reported operating losses typical of clinical-stage biotechs, recent asset reacquisitions, IP expansion, and preclinical advancements have positioned Addex for significant value creation ahead of multiple upcoming clinical catalysts. The regained rights to ADX71149, coupled with renewed IP control over mGlu5 NAM for brain injury applications, enhance Addex’s long-term commercial leverage.
Positioned for Breakthrough in Central Nervous System Disorders
Addex Therapeutics has strategically evolved from a single-asset biotech to a platform-based drug discovery company capable of generating multiple high-value therapeutic candidates. Its unique allosteric modulation technology, diversified pipeline, strategic partnerships, and intellectual property portfolio provide a strong foundation for future growth. As global demand for CNS therapies increases and pharmaceutical companies intensify focus on innovative neurological treatments, Addex is positioned at a pivotal point in its corporate journey, poised to unlock substantial shareholder value through clinical progress, partnering opportunities, and potential market approvals.
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