ADDEX PHA : First Half 2010 Financial Results Next Wednesday
07/21/2010 | 01:05am US/Eastern
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Geneva, Switzerland, July 21, 2010 - Allosteric modulation company Addex
Pharmaceuticals Ltd. (SIX:ADXN) will discuss its financial results for the first
half of 2010 and update the status of key products in development during a
teleconference and webcast for investors, analysts and the media on Wednesday,
July 28 at 16:00 CET (15:00 BST/10:00 EST).
Addex last updated its pipeline status during its R&D Day on May 11, 2010. The
slides and recorded webcasts from the R&D Day are available at
Title: Addex First Half 2010 Financial Results Conference Call
The live webcast and slides, as well as the webcast replay and transcript, will
be available atwww.addexpharma.com.
Addex Pharmaceuticals (www.addexpharma.com) discovers and develops allosteric
modulators for human health and is focused on validated therapeutic targets for
diseases of the central nervous system, metabolic disorders and inflammation.
Subject to the completion of Phase I testing and regulatory approvals, Phase II
clinical trials are expected to start in 2010 in four indications for two lead
products: ADX48621, an mGluR5 negative allosteric modulator (NAM), in dystonia
and Parkinson's disease levodopa-induced dyskinesia (PD-LID); and ADX71149, an
mGluR2 positive allosteric modulator (PAM), in schizophrenia and anxiety.
ADX71149 is licensed to Ortho-McNeil-Janssen Pharmaceuticals Inc. A third
product, ADX71943, GABA-B receptor PAM with potential for chronic pain, is
scheduled to enter Phase I testing around the end of 2010. In addition, Merck &
Co., Inc. has licensed rights to two preclinical products: mGluR4 PAM for
Parkinson's disease and mGluR5 PAM for schizophrenia. Additional preclinical
discovery stage programs include: mGluR2 NAM, GLP1R PAM, IL1R1 NAM and TNFR1
NAM. Roche Venture Fund and SR-One, corporate venture arm of GlaxoSmithKline,
are investors in Addex.
Disclaimer: The foregoing release may contain forward-looking statements that
can be identified by terminology such as "not approvable", "continue",
"believes", "believe", "will", "remained open to exploring", "would", "could",
or similar expressions, or by express or implied discussions regarding Addex
Pharmaceuticals Ltd, its business, the potential approval of its products by
regulatory authorities, or regarding potential future revenues from such
products. Such forward-looking statements reflect the current views of Addex
Pharmaceuticals Ltd regarding future events, future economic performance or
prospects, and, by their very nature, involve inherent risks and uncertainties,
both general and specific, whether known or unknown, and/or any other factor
that may materially differ from the plans, objectives, expectations, estimates
and intentions expressed or implied in such forward-looking statements. Such may
in particular cause actual results with allosteric modulators of mGluR2, mGluR4,
mGluR5, mGluR7 or other therapeutic targets to be materially different from any
future results, performance or achievements expressed or implied by such
statements. There can be no guarantee that allosteric modulators of mGluR2,
mGluR4, mGluR5, mGluR7 will be approved for sale in any market or by any
regulatory authority. Nor can there be any guarantee that allosteric modulators
of mGluR2, mGluR4, mGluR5, mGluR7 or other therapeutic targets will achieve any
particular levels of revenue (if any) in the future. In particular, management's
expectations regarding allosteric modulators of mGluR2, mGluR4, mGluR5, mGluR7
or other therapeutic targets could be affected by, among other things,
unexpected actions by our partners, unexpected regulatory actions or delays or
government regulation generally; unexpected clinical trial results, including
unexpected new clinical data and unexpected additional analysis of existing
clinical data; competition in general; government, industry and general public
pricing pressures; the company's ability to obtain or maintain patent or other
proprietary intellectual property protection. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated, believed, estimated
or expected. Addex Pharmaceuticals Ltd is providing the information in this
press release as of this date and does not undertake any obligation to update
any forward-looking statements contained in this press release as a result of
new information, future events or otherwise, except as may be required by
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