PRISM Biotech Index Leader Addex (ADXN) Sees Shares Rise on Selection of Candidates from GABAB Positive Allosteric Modulator Research Collaboration

PRISM Biotech Index leader and clinical-stage biopharmaceutical company dedicated to developing a portfolio of novel small molecule allosteric modulators for neurological disorders, Addex Therapeutics (ADXN) announced today, alongside Indivior PLC (INDV) the selection of clinical candidates from their GABAB positive allosteric modulator (PAM) research collaboration. Indivior has chosen a compound for future development in the treatment of substance use disorder and will now assume responsibility for all further development of this selected compound. According to the terms of the agreement, Addex is eligible to receive up to USD 330 million upon the successful achievement of specified regulatory, clinical, and commercial milestones, in addition to tiered royalties on net sales, ranging from high single digits to low double digits. Furthermore, Addex has exercised its right under the agreement to select a compound to advance its independent GABAB PAM program, targeting the treatment of chronic cough.

“Indivior’s collaboration with Addex has been crucial in identifying a potential candidate for treating substance use disorders,” said Christian Heidbreder, Chief Scientific Officer at Indivior. “While the challenges in this field are complex, targeting the GABAB receptor with positive allosteric modulators presents a promising new approach to developing much-needed therapies. At Indivior, we are committed to advancing the science of addiction treatment, with the ultimate goal of delivering effective therapies to those affected by substance use disorders.”