Addex Strengthens Operations with New Depositary Bank
Ad Hoc Announcement Pursuant to Art. 53 LR
Geneva, Switzerland - Addex Therapeutics (SIX and Nasdaq: ADXN), a biopharmaceutical innovator specializing in the development of allosteric modulators for neurological disorders, is excited to share the appointment of the Bank of New York Mellon (BNY) as its new ADS depositary agent. This transition aims to enhance service quality for ADS holders and will officially take effect soon.
The decision to partner with BNY is a strategic move. Not only does it streamline operational efficiency, but it also ensures that shareholders continue to enjoy the same fee structure, with no further action required from ADS holders at the time of the change.
Understanding Addex Therapeutics’ Vision
Addex Therapeutics is dedicated to pioneering advancements in the treatment of neurological conditions. Their flagship drug candidate, dipraglurant, is making strides toward recovery applications for brain injuries, such as those related to strokes and trauma. In collaboration with Indivior, Addex is also focusing on a GABAB PAM drug candidate aimed at treating substance use disorders. This dual focus showcases their commitment to tackling pressing health challenges through innovative therapies.
Moreover, Addex is actively developing a GABAB PAM program specifically geared towards chronic cough management. By holding a 20% stake in Neurosterix LLC, Addex is part of an exciting pipeline that includes several promising allosteric modulator programs targeting conditions like schizophrenia, mood disorders, and cognitive impairments.
What This Means for Investors
For investors, this appointment reflects Addex's commitment to growth and further solidifies their operations in the biopharmaceutical landscape. Annual reports have often highlighted the importance of strategic partnerships, and the collaboration with the Bank of New York Mellon reinforces the innovative strategies Addex is employing.
Ticking under the symbol “ADXN” on both the SIX Swiss Exchange and Nasdaq Capital Market, Addex has maintained a robust market presence. The recent changes are expected to foster increased confidence among shareholders and facilitate the company’s growth trajectory.
Commitment to Shareholder Engagement
As part of their dedication to transparency and shareholder engagement, Addex encourages shareholders to stay informed about corporate developments. Regular updates will be provided, ensuring that the community is well-aware of advancements related to drug candidates and strategic partnerships.
Additionally, the management team remains approachable for inquiries, with key contacts such as Tim Dyer, Chief Executive Officer, available directly for any clarifications. He can be reached at +41 22 884 15 55 or via email.
About the Management Team
Tim Dyer leads the Addex team with a focus on innovative development in neurology. Alongside him is Mike Sinclair from Halsin Partners, who plays a crucial role in guiding investor relations and strategic counsel.
Staying Informed with Addex Therapeutics
For stakeholders wishing to follow Addex’s progress, the company website provides extensive resources and updates on their projects. Shareholders are encouraged to check for periodic communications that detail the company’s milestones and achievements.
Frequently Asked Questions
What did Addex announce recently?
Addex Therapeutics announced the appointment of the Bank of New York Mellon as its new ADS depositary agent to improve services for ADS holders.
How will this appointment affect ADS holders?
This appointment will not impact the fees for ADS holders, and no action is required on their part during the transition.
What are Addex’s key product focuses?
Addex focuses on developing therapies for neurological disorders, with key products targeting brain injury recovery and substance use disorders.
How can shareholders get updates from Addex?
Shareholders can stay informed about Addex's developments through regular updates on the company website and direct communications from the management team.
Who leads Addex Therapeutics?
The company is led by Chief Executive Officer Tim Dyer, who is focused on innovation and strategic growth in the biopharmaceutical field.
