Addex Therapeutics Awarded $1 MM Grant from The Michael J. Fox Foundation for Parkinson's Research

Addex Therapeutics Awarded $1 MM Grant from The Michael J. Fox Foundation for 
Parkinson's Research 
NEW YORK, NY and GENEVA -- (Marketwire) -- 03/19/13 --  Addex
Therapeutics / Addex Therapeutics Awarded $1 MM Grant from The
Michael J. Fox Foundation for Parkinson's Research. 
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The issuer is solely responsible for the content of this
announcement. 
Grant to be used to help fund further human clinical testing of
dipraglurant for the treatment of Parkinson's disease
levodopa-induced dyskinesia 
Addex Therapeutics (SIX: ADXN),  a leading company pioneering 
allosteric modulation-based drug discovery and  development, and  The
Michael  J. Fox  Foundation for  Parkinson's Research
announced 
today that the Foundation awarded a $1,000,000 grant to Addex to
help
fund  continued  human  clinical  testing  of  dipraglurant for
the treatment of Parkinson's  disease levodopa-induced  dyskinesia
(PD-LID).  One-third of people
with  PD  develop  dyskinesia  within 
four  to  six years of beginning levodopa
treatment;  this increases
to approximately 90 percent after nine or more years.
Patients  with
Parkinson's  disease (PD)  can live  10-20 years after
diagnosis;
however,  PD-LID  is  a  leading  cause  of  disability 
in this growing patient
population. 
"Dyskinesia  is a  top priority  for our  Foundation because  of its
significant
negative  impact on patients'  quality of life,"  said
Todd Sherer, Ph.D., Chief
Executive  Officer  of  The  Michael  J. 
Fox  Foundation.  "Candidates such as dipraglurant and other
innovative therapies in development offer the possibility
of improved
quality of life through better symptomatic treatment of
Parkinson's.
Dipraglurant  targets  a  molecular  mechanism  that 
our  Foundation  has been
investing  in  since  2005 and  we  are 
pleased  to  take part in its continued
progress  to the clinic. We
are enthusiastic about funding this work and hopeful
that  it may
offer patients relief from  a longstanding issue with the
treatment
of their disease." Dyskinesias  are the uncontrollable and
disruptive  movements that are caused by long-term  use of  levodopa
(Sinemet),  a dopamine  replacement therapy and the gold-standard 
treatment  for  Parkinson's  disease.  There  is  no
FDA-approved
treatment   for   dyskinesia.   Existing   treatment 
options  are  limited and
insufficient to address patients' medical
needs. Patients are faced with a lose-lose  situation: Take as  much
levodopa as  needed to manage symptoms, and cope with  dyskinesia; 
or  take  less  medicine  in  an  effort  to delay or
prevent
dyskinesia,  and cope with symptoms. The  Michael J. Fox
Foundation has invested
more than $26 million in dyskinesia-targeted
research to date, including support
for a successful Phase 2a trial
of dipraglurant completed by Addex in 2012. 
"We  are  extremely  pleased  to  receive  this  grant  from  The
Michael J. Fox Foundation  supporting the  further development  of
dipraglurant,"  said Bharatt
Chowrira,  Ph.D., Chief Executive
Officer of Addex Therapeutics. "We believe the successful  
completion   of   the  Phase  2a study  offers  some  promise
that
dipraglurant has the potential to significantly change both the
way patients are treated  as well as their quality  of life.  The work
we  will be able to pursue
with  this  grant  is  critical  to  our
continued advancement of this important
approach  to the  treatment
of  PD-LID. Ultimately,  we hope to see dipraglurant
become the first
drug to alleviate all PD-LID symptoms." 
Dipraglurant  is  an  oral,  small  molecule  allosteric modulator
that inhibits
selectively  the metabotropic glutamate receptor 5
(mGluR5), a Class C G-Protein
Coupled  Receptor (GPCR). Dipraglurant
holds potential to be used in combination
with levodopa or dopamine
agonists, or as a standalone treatment for PD-LID,
PD-related  motor
symptoms, dystonia,  non-motor symptoms of  PD and other
movement
disorders.  Data  from  a  Phase  2a showed  that 
dipraglurant  met the primary
objective  of the  study by  exhibiting
a  good safety and tolerability profile.
Dipraglurant  also 
demonstrated  a  statistically  significant reduction  in LID
severity  with both 50 and 100 mg doses. Dipraglurant appears to
reduce dystonia
severity in addition to chorea, the two major LID
components. In a double-blind,
placebo-controlled  study conducted in
the US  and Europe, the primary objective
was  to demonstrate safety
and tolerability in PD-LID patients. In addition, the trial  was
designed to  evaluate exploratory efficacy  as a secondary
objective.
Efficacy  was measured  using the  modified Abnormal 
Involuntary Movement Scale
(mAIMS),  patient diaries documenting 
"off-time" (impaired voluntary movement),
"on-time"  (with or without
dyskinesia) and sleep.  The trial was supported by a grant from The
Michael J. Fox Foundation for Parkinson's Research. 
About The Michael J. Fox Foundation for Parkinson's Research 
As  the world's largest  private funder of  Parkinson's research, The
Michael J. Fox  Foundation is dedicated to accelerating  a cure for
Parkinson's disease and improved  therapies for  those living  with
the  condition today. The Foundation
pursues  its  goals  through  an
 aggressively  funded, highly targeted research
program  coupled 
with  active  global  engagement  of  scientists,
Parkinson's
patients, business leaders, clinical trial participants,
donors and volunteers.
In  addition  to  funding  more  than  $300 
million  in  research  to date, the Foundation  has fundamentally
altered the trajectory  of progress toward a cure.
Operating  at the
hub  of worldwide Parkinson's  research, the Foundation
forges
groundbreaking  collaborations  with  industry  leaders,
academic scientists and government research funders; increases the
flow of participants into Parkinson's
disease  clinical  trials  with
 its  online  tool,  Fox  Trial Finder; promotes
Parkinson's 
awareness through  high-profile advocacy,  events and outreach; and
coordinates  the grassroots involvement of thousands  of Team Fox
members around
the world. 
For more information, visit us at: 
Web site: michaeljfox.org 
Facebook: facebook.com/michaeljfoxfoundation 
LinkedIn: bit.ly/mjffPDOR 
Twitter: @MichaelJFoxOrg 
About Addex Therapeutics 
Addex  Therapeutics (www.addextherapeutics.com)  is a  development
stage company
focused  on  advancing  innovative  oral  small 
molecules against rare diseases
utilizing  its pioneering  allosteric
modulation-based  drug discovery platform.
The  Company's  two  lead 
products  are  being investigated in Phase 2 clinical
testing: 
dipraglurant (dipraglurant, an mGlu5  negative allosteric modulator
or NAM)  is being developed by Addex  to treat Parkinson's disease
levodopa-induced
dyskinesia  (PD-LID) and  rare forms  of dystonia; 
and ADX71149 (mGlu2 positive
allosteric  modulator or PAM)  is being
developed  in collaboration with Janssen
Pharmaceuticals,  Inc.  to 
treat  both  schizophrenia  and  anxiety  as seen in patients 
suffering  from  major  depressive  disorder.  Addex is also
advancing
several  preclinical programs  including: GABA-BR  positive
allosteric modulator
(PAM)  for Charcot-Marie-Tooth  (type 1a)
disease,  spasticity in  patients with
multiple sclerosis (MS), pain,
overactive bladder and other disorders; and mGlu4
PAM  for  MS, 
Parkinson's  disease,  anxiety  and  other  diseases.
Allosteric
modulators  are  an  emerging  class  of  small  molecule 
drugs  which have the potential to be more specific and confer
significant therapeutic advantages over
conventional  "orthosteric"
small molecule or biological drugs. The Company uses
its  proprietary
discovery platform to target  receptors and other proteins that
are
recognized as essential for the therapeutic modulation of important
diseases
with unmet medical needs. 
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
Therapeutics, 
formerly  known  as,  Addex  Pharmaceuticals,  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
Therapeutics 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
mGlu2, mGlu4,  mGlu5, GABA-BR 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  mGlu2,  mGlu4,
 mGlu5, GABA-BR or other therapeutics
targets  will be approved for
sale in any market or by any regulatory authority.
Nor  can  there 
be  any  guarantee  that allosteric modulators of mGlu2,
mGlu4,
mGlu5,  GABA-BR 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  mGlu2,  mGlu4,  mGlu5, GABA-BR  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  Therapeutics  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 applicable
laws. 
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Source: Addex Therapeutics via Thomson Reuters ONE 
[HUG#1686216] 
Tim Dyer
Chief Financial Officer
Addex Therapeutics
+41 22 884 15 61
PR@addextherapeutics.com