Press Release: Addex Therapeutics Delays Start of Dipraglurant Pivotal Study and Reporting 2019 Full Year Audited Results

Geneva, Switzerland, March 18, 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, announced today that due to the impact of the

COVID-19 coronavirus pandemic, the start of the registrational efficacy

and safety study (Study 301) of dipraglurant to treat levodopa induced

dyskinesia (PD-LID) in patients with Parkinson's disease has been

postponed. In addition, the company will delay reporting its full year

2019 audited financial results and associated investor conference call

till April 8, 2020.

Addex has taken the decision to postpone the start of the dipraglurant

study due to the fact that the intended patient population is among the

highest risk category for severe illness and death associated with

COVID-19. Public health authorities worldwide have recommended that

people at high risk stay at home as much as possible, cancel all

non-essential doctor's appointments and avoid unnecessary exposure to

people and public spaces.

"As the situation with COVID-19 has evolved, we have stayed in close

communication with study sites, vendors and colleagues and learned of

new institutional precautions being put in place for clinical research.

Sites are temporarily suspending on-site visits for monitors, vendors,

and all other non-patient visitors and several sites have cancelled all

non-essential patient visits," said Roger Mills, M.D., Chief Medical

Officer of Addex Therapeutics. "Priority is now rightly being placed on

how to manage regular care for patients in the light of the increasing

COVID-19 containment requirements. We care about the well-being of all

PD patients and do not wish to have them make the additional visits to

doctors' offices that are required in a clinical study, putting them at

increased risk of contracting COVID-19."

Addex will continue to work with its CRO and the study sites to continue

preparations to start the study as soon as it is appropriate to do so.

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) is being developed in

collaboration with Janssen Pharmaceuticals, Inc 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

March 18, 2020 02:00 ET (06:00 GMT)