Addex Pharma plans IPO on SWX

Geneva, Switzerland-based Addex Pharmaceuticals says that it intends to raise new funds through an initial public offering on the SWX Swiss Exchange within the next few weeks.

Addex is a biopharmaceutical company focused on building a sustainable and profitable pharmaceutical business around its world-leading expertise in the discovery and development of allosteric modulators of G-protein coupled receptors. Allosteric modulators are a new class of drug that alter the effect of endogenous activators on their specific biological targets, particularly GPCRs, through a novel mechanism of action, and may offer an improved therapeutic approach to existing drug treatments.

Addex has established a diverse portfolio of five clinical and eight preclinical programs to date, built around its expertise in allosteric modulation and drug discovery and development. The most advanced candidate, ADX10059, has successfully completed two Phase IIa clinical trials and demonstrated clinically- and statistically-significant efficacy in both gastro-esophageal reflux disease and migraine. The company is also conducting another Phase IIa clinical trial with ADX10059 in acute anxiety and has two additional clinical-stage compounds in development: ADX10061, currently in a Phase IIa in the USA for smoking cessation, and ADX48621, now in Phase I clinical trials as a potential treatment for depression, anxiety and inflammatory pain.