Press Release: Addex and the SIB Swiss Institute of Bioinformatics Receive Innosuisse Grant to Repurpose Potent Dopamine Antagonist Using Computational Model...

ADX10061 Previously Demonstrated Favorable Safety and Tolerability in

Clinical Studies

Geneva, Switzerland, August 27, 2020 --

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Addex Therapeutics (SIX: ADXN and Nasdaq: ADXN), a clinical-stage

pharmaceutical company pioneering allosteric modulation-based drug

discovery and development, and the SIB Swiss Institute of Bioinformatics

(SIB) today announced that they have been awarded a CHF600K Innosuisse

grant to apply computational approaches developed by SIB to identify new

therapeutic indications for ADX10061, a potent and selective dopamine D1

receptor antagonist. Dopamine is a major neurotransmitter in the central

nervous system and D1 receptors are believed to play an important role

in the control of diverse aspects of brain function, including cognition,

motivation, motricity, sleep, and memory.

"The diversity of D1-dopaminergic systems in the body and availability

of promising clinical and pre-clinical study data is a strong basis to

successfully apply advanced computational approaches, such as those

developed by SIB, to identify new therapeutic opportunities for

ADX10061," said Robert Lütjens, PhD, Head of Discovery Biology at

Addex. "We believe SIB's proprietary approaches, including artificial

intelligence, deep learning techniques and molecular modelling have the

potential to generate testable hypotheses for new therapeutic effects of

ADX10061."

"The Addex molecule, ADX10061, provides a perfect opportunity to deploy

the advanced computational technologies developed at the SIB to explore

further its biological properties and discover additional potential

therapeutic indications," said Christine Durinx, PhD, SIB Executive

Director. "Our multidisciplinary team of data scientists are excited to

have the opportunity to work with Addex on this Innosuisse funded

project."

"This Innosuisse funded SIB collaboration is another example of our

strategy to access technologies through collaborative approaches to

advance our portfolio for the benefit of both patients and shareholders,

" said Tim Dyer, CEO of Addex. "We are honoured to have the opportunity

to work with the SIB team and believe they have the skills and expertise

to identify new potential therapeutic opportunities for ADX10061."

About D1 Antagonists

The D1 subtype is the most abundant form of dopamine receptor in the

body and is ubiquitous throughout the central nervous system. Non-human

primate studies have shown the D1 receptor to be vital in attention and

other executive processes and due to its presence in sub-cortical

regions, it may play a role in reward, addiction and mood. Many typical

and atypical antipsychotic agents act as D1 antagonists in addition to

their effect on the D2 receptor. This lack of specificity for compounds

targeting the D1 recepter has meant that no specific D1 antagonist has

been approved for clinical use.

About SIB

The SIB Swiss Institute of Bioinformatics is an academic not-for-profit

organization whose mission is to lead and coordinate the field of

bioinformatics in Switzerland. Its data science experts join forces to

advance biological and medical research and enhance health. SIB (i)

provides the national and international life science community with a

state-of-the-art bioinformatics infrastructure, including services,

resources, expertise; and (ii) federates world-class researchers and

delivers training in bioinformatics. The institute includes some 80

world-class research and service groups including 800 scientists in the

fields of genomics, proteomics, evolution and phylogeny, systems biology,

structural biology, text mining and machine learning and personalized

health.

About Addex Therapeutics

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Addex Therapeutics is a clinical-stage pharmaceutical company focused on

the development and commercialization 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, dipraglurant (mGlu5 negative allosteric modulator or NAM), is

scheduled to enter a pivotal registration clinical trial for Parkinson's

disease levodopa induced dyskinesia (PD-LID). In parallel,

dipraglurant's therapeutic use in dystonia is being investigated in

preclinical models. Addex's second clinical program ADX71149 (mGlu2

positive allosteric modulator or PAM), developed in collaboration with

our partner Janssen Pharmaceuticals, Inc., is scheduled to enter a Phase

2a proof of concept clinical study for the treatment of epilepsy. In

addition, Addex's GABA(B) PAM program has been licensed to Indivior PLC

for the treatment of addiction. Preclinical programs include GABA(B)

PAM for CMT1A, mGlu7 NAM for PTSD, mGlu2 NAM for mild neurocognitive

disorders, mGlu4 PAM for Parkinson's disease and mGlu3 PAM for

neurodegenerative disorders.

Press Contacts:

Tim Dyer Mike Sinclair

Chief Executive Officer Partner, Halsin Partners

Telephone: +41 22 884 15 55 +44 (0)20 7318 2955

Email: mailto:PR@addextherapeutics.com PR@addextherapeutics.com mailto:msinclair@halsin.com msinclair@halsin.com

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Forward Looking Statements

Certain statements made in this announcement are forward-looking

statements including with respect to the creation of a trading market

for ADSs representing the Company's shares in the United States. These

forward-looking statements are not historical facts but rather are based

on the Company's current expectations, estimates, and projections about

its industry; its beliefs; and assumptions. Words such as 'anticipates,'

'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and

similar expressions are intended to identify forward-looking statements.

These statements are not guarantees of future performance and are

subject to known and unknown risks, uncertainties, and other factors,

some of which are beyond the Company's control, are difficult to predict,

and could cause actual results to differ materially from those expressed

or forecasted in the forward-looking statements. The Company cautions

securityholders and prospective securityholders not to place undue

reliance on these forward-looking statements, which reflect the view of

the Company only as of the date of this announcement. The

forward-looking statements made in this announcement relate only to

events as of the date on which the statements are made. The Company will

not undertake any obligation to release publicly any revisions or

updates to these forward-looking statements to reflect events,

circumstances, or unanticipated events occurring after the date of this

announcement except as required by law or by any appropriate regulatory

authority.

(END) Dow Jones Newswires

August 27, 2020 01:00 ET (05:00 GMT)