Addex Announces Launch Of Neurosterix In Partnership With Perceptive - Quick Facts

(RTTNews) - Addex Therapeutics (ADXN) and funds affiliated with Perceptive Advisors announced the launch of Neurosterix, a company focused on developing allosteric modulators for the treatment of underserved neurological disorders. Tim Dyer, in addition to role at Addex, will assume the role of CEO of Neurosterix.

With funding of $63 million from Perceptive Xontogeny Venture Fund II, with participation from Perceptive Life Sciences Fund and Acorn Bioventures, Neurosterix will acquire preclinical assets and the allosteric modulator drug discovery technology platform from Addex. Addex will receive 5 million Swiss francs, and a 20% equity interest in Neurosterix.

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