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Addex Therapeutics S.A.. (3/5/18). "Press Release: Addex Secures Investor Commitment for CHF40 Million Capital Increase Following Successful Completion of Book Building Process". Geneva.

Organisations Organisation Addex Therapeutics S.A. (SIX: ADXN)
  Group Addex (Group)
  Organisation 2 Herculis Partners S.A.
Products Product dipraglurant (ADX48621)
  Product 2 venture capital
Index term Index term Addex–SEVERAL: investment, 201802–201803 private placement CHF40m with 12.78m new shares at CHF3.13/share plus 0.4 warrants at CHF3.43
Persons Person Dyer, Tim (Addex CEO 201802 formerly CFO + Co-Founder)
  Person 2 Sinclair, Mike (Halsin Partners 201110 Partner + Co-founder before Burns McClellan)

Addex Therapeutics (SIX: ADXN), the leading developer of oral allosteric modulators for neurological disorders, announced today that the Company has secured investor commitments for all CHF40 million of its planned capital increase following successful completion of the book building process launched on 15 February.

As previously announced, Addex’ Board of Directors will seek shareholder approval at the Extraordinary General Meeting (EGM) on Friday, 16th of March 2018 to increase its share capital by issuing 12,779,553 new shares at a price of CHF3.13. Each new share will receive a 7 year warrant to purchase 0.45 of a share at a price of CHF3.43. The first trading day of the newly issued shares is expected to be on or around the 28 March 2018. The gross proceeds, of CHF40 million net of certain costs and expenses associated with the placement, will be used to advance Addex’s portfolio of drug candidates, including registration studies for lead program, dipraglurant, for levodopa-induced dyskinesia associated with Parkinson’s disease (PD-LID).

“With commitment for CHF30 million in place from leading US investors, we received strong demand for the remaining CHF10 million, so are delighted to have secured our final target of CHF40 million during the book building process,” said Tim Dyer, CEO of Addex. “Following shareholder approval at the EGM, this significant cash injection will allow us to advance our portfolio of exciting first-in-class allosteric modulator drug candidates further through clinical development and unlock significant value for our shareholders.”

The share offering was conducted as a private placement of shares and warrants in Switzerland and abroad to qualified institutional investors, subject to certain limitations based on residency, in compliance with applicable securities laws.

MTS Securities, LLC acted as the lead and institutional US placement agent in connection with the placing. Herculis Partners SA, Kepler Cheuvreux SA, Octavian AG and Semper Finance Group SA also acted as placement agents in the offering.

About Addex Therapeutics

Addex Therapeutics ( 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. 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 PLC. Discovery programs include GABAB PAM for CMT1A neuropathy, mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM.

Press Contacts:

For Addex Therapeutics
Tim Dyer
Chief Executive Officer
Telephone: +41 22 884 15 61

Mike Sinclair
Partner, Halsin Partners
+44 (0)20 7318 2955

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.

Record changed: 2018-04-30


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