Press Release: Addex Announces Filing of Registration Statement for Proposed Public Offering of Securities

Geneva, Switzerland, December 14, 2020 -- Addex Therapeutics

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Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical

company pioneering allosteric modulation-based drug discovery and

development announced today that it has filed a registration statement

with the U.S. Securities and Exchange Commission (SEC) for a proposed

underwritten public offering of shares, including those to be settled in

the form of American Depositary Shares (ADSs). Each ADS represents the

right to receive six shares of Addex. The terms of the offering have

not been determined, and the offering is subject to market and other

conditions, and there can be no assurance as to whether or when the

offering may be completed. The Company will be concurrently offering the

shares in Europe (other than Switzerland) in a private placement to

qualified investors, and in Switzerland through private placements.

H.C. Wainwright & Co. is acting as sole book-running manager for the

offering.

The proposed offering will be made only by means of a prospectus. Once

available, an electronic copy of the preliminary prospectus relating to,

and describing the terms of, the offering may be obtained from H.C.

Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022,

by telephone at (646) 975-6996 or e-mail at

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placements@hcwco.com or on the SEC's website.

A registration statement on Form F-1 relating to the proposed sale of

these securities has been filed with the SEC but has not yet become

effective. These securities may not be sold, nor may offers to buy be

accepted, prior to the time the registration statement becomes

effective. This press release shall not constitute an offer to sell or

the solicitation of an offer to buy these securities, nor shall there be

any sale of these securities in any state or jurisdiction in which such

offer, solicitation or sale would be unlawful prior to registration or

qualification under the securities laws of any such state or

jurisdiction. There is no intention or permission to publicly offer,

solicit, sell or advertise, directly or indirectly, any securities of

Addex Therapeutics Ltd in or into Switzerland within the meaning of the

Swiss Financial Services Act ("FinSA"). Neither this document nor any

other offering or marketing material relating to these securities, such

as the shares, constitutes or will constitute a prospectus pursuant to

the FinSA, and neither this document nor any other offering or marketing

material relating to the shares constitutes a prospectus pursuant to the

FinSA, and neither this document nor any other offering or marketing

material relating to the shares may be publicly distributed or otherwise

made publicly available in Switzerland.

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

poised to start a pivotal registration clinical trial for Parkinson's

disease levodopa induced dyskinesia (PD-LID) in 2021. Addex is also

investigating dipraglurant's therapeutic use in blepharospasm (a type of

dystonia), for which a clinical trial is expected to be initiated in

2021. Addex's third clinical program, ADX71149 (mGlu2 positive

allosteric modulator or PAM), developed in collaboration with Janssen

Pharmaceuticals, Inc, is scheduled to enter a phase 2a proof of concept

clinical study for the treatment of epilepsy in 2021. Addex's GABAB 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:

Statements in this announcement concerning the timing and terms of the

anticipated offering of the Company's securities are forward-looking

statements, which are subject to risks and uncertainties, including

those risks described in the Company's Annual Report on Form 20-F filed

with the SEC on April 27, 2020, as well as market conditions and

regulatory review.

(END) Dow Jones Newswires

December 14, 2020 12:22 ET (17:22 GMT)