Addex Therapeutics Ltd (CH:ADXN) has released an update.
Addex Therapeutics has partnered with investment firm Perceptive Advisors to launch Neurosterix, a new company armed with $63 million to fast-track the development of treatments for neurological disorders using allosteric modulator therapeutics. Addex contributes its early-stage neuroscience assets and proprietary drug discovery platform to Neurosterix and receives CHF5 million along with a 20% equity stake. The deal bolsters Addex’s financial position, extending its cash runway beyond 2026, while retaining significant clinical assets and partnerships.
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