Addex Receives Additional $2.8 million from Indivior and Extends GABAB PAM Research Collaboration

Geneva, Switzerland, November 2, 2020 – Addex Therapeutics Ltd (SIX and Nasdaq: ADXN), a leading company pioneering allosteric modulation-based drug discovery and development, today announced that the research term of the agreement signed with Indivior PLC (LON: INDV) in January 2018 has been extended until June 30, 2021. The collaboration with Indivior covers the discovery of novel oral gamma-aminobutyric acid receptor subtype B (GABAB) positive allosteric modulator (PAM) compounds as potential therapies for multiple disease areas. As part of the amended agreement, Indivior has agreed to pay Addex $2.8 million in research funding and expand the therapeutic areas where Addex has exclusivity to develop retained compounds.

“The extension of our research collaboration and the additional funding from Indivior is a clear recognition of the potential of our allosteric modulator discovery platform and the significant achievements of our drug discovery team,” said Tim Dyer, CEO of Addex. “Indivior is a world leader in the development of addiction medication and strongly committed to GABAB PAM as a potential treatment for addiction including alcohol use disorder.”

“Although 200 health conditions have been linked to harmful alcohol use,1 there are few pharmacotherapies for alcohol use disorder (AUD) – their efficacy and uptake in clinical practice are limited, and patient acceptance is minimal. We are, therefore, very pleased to expand our partnership with Addex Therapeutics to discover and profile new potent and selective GABAB PAMs and provide a new class of medications that has the potential to achieve therapeutic benefits in patients suffering from AUD,” said Christian Heidbreder, Chief Scientific Officer of Indivior.

“Due to the extensive validation of GABAB activation with baclofen, we believe a novel, orally available GABAB PAM could provide significant benefits to patients in many therapeutics areas,” said Jean-Philippe Rocher, Co-Head of Discovery. “We have advanced multiple novel chemical series’ to late stages of lead optimization and we look forward to rapidly delivering first-in-class compounds for Indivior to advance into clinical development.”

Under the terms of the original agreement signed with Indivior in January 2018, Addex received a $5 million upfront payment and has since received $5.6 million research funding. Addex is eligible to receive up to $330 million of development, regulatory and commercialization milestones as well as tiered royalties up to teen double-digit. In addition, Addex has the right to retain certain compounds and pursue their development for reserved indications outside addiction, including for the treatment of Charcot-Marie-Tooth type 1a (CMT1A) neuropathy, a rare inherited disorder that affects peripheral nerves. Addex has discovered novel GABAB PAMs and has made significant progress in optimization of potential drug candidates. Addex expects to enter clinical candidate selection phase by end of 2020 and deliver drug candidates for IND enabling studies by the end of 2021 for both Indivior and for its in-house CMT1A program.

About GABAB Activation with PAM

Activation of the GABAB receptor, a Family C class of GPCR, is clinically and commercially validated by the generic GABAB

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