Geneva, Switzerland, January 29, 2020 -- Addex Therapeutics Ltd (SIX: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, today announced the listing of American Depositary Shares (ADSs) representing its ordinary shares on the Nasdaq Stock Market and the declaration by the United States Securities and Exchange Commission (SEC) of its registration statement on Form F1 and F6 becoming effective. The ADSs will be listed for trading on Nasdaq under the symbol "ADXN" on January 29, 2020.
The registration statement was filed to facilitate the creation of a trading market in the United States for ADSs representing the Company's shares and to satisfy its obligations under a registration rights agreement entered into with investors who participated in the Company's March 2018 private placement. Addex has not registered any new issuance of securities and its shares will continue to be admitted to trading on SIX Swiss Exchange.
Should shareholders wish to exchange their shares into ADSs, Addex has provided instructions intended to guide shareholders through the process and answer related frequently asked questions. The document can be found on the Addex website here: http://www.addexpharma.com/en/investors/downloads/
This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, 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. This document does not constitute a prospectus according to art. 652a or art. 1156 of the Swiss Code of obligations or art. 27 et seq. of the Swiss Exchange Listing Rules. A prospectus describing the securities reference herein may be obtained from the website of the Securities and Exchange Commission of http://www.sec.gov.
About Addex Therapeutics
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 GABAB PAM program has been licensed to Indivior PLC for the treatment of addiction. Preclinical programs include GABAB 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.
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.