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Addex Awarded Michael J. Fox Foundation Grant for ADX48621 to treat Levodopa-Induced Dyskinesia in Parkinson's Disease
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Addex Awarded Michael J. Fox Foundation Grant for ADX48621 to treat Levodopa-Induced Dyskinesia in Parkinson's Disease

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Addex Awarded Michael J. Fox Foundation Grant for ADX48621 to treat Levodopa-Induced Dyskinesia in Parkinson's Disease

Addex Pharmaceuticals / Addex AwardedMichael J. Fox Foundation Grant for ADX48621 to treat Levodopa-InducedDyskinesia in Parkinson's Disease processed and transmitted by Hugin AS

GENEVA, SWITZERLAND -- (Marketwire) -- 09/07/10 -- Addex Pharmaceuticals / Addex AwardedMichael J. Fox Foundation Grant for ADX48621 to treat Levodopa-InducedDyskinesia in Parkinson's Disease processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement.

Geneva, Switzerland, 8 September 2010 - Allosteric modulation companyAddexPharmaceuticals Ltd (SWISS: ADXN) announced today that it has beenawarded a$900,000 grant from The Michael J. Fox Foundation (MJFF) to help fund aPhase IIstudy of ADX48621 for the treatment of Parkinson's disease levodopa-induceddyskinesia (PD-LID). Patients with PD can live 10-20 years afterdiagnosis;however, LID is a leading cause of disability in this growingpatientpopulation.

"People with Parkinson's report that the side-effects of levodopatreatment areone of the most difficult aspects of living with the disease. WebelieveADX48621 has the potential to improve the quality of life for patientssufferingfrom the undesirable effects of long-term dopamine replacement," saidKatieHood, CEO, The Michael J. Fox Foundation. "ADX48621 targets amolecularmechanism that our Foundation has been investing in since 2005.We'reenthusiastic about funding this clinical work and the hope that it maybring topatients."

ADX48621 is a metabotropic glutamate receptor 5 (mGluR5) negativeallostericmodulator (NAM). It already has successfully completed Phase I testing inthreestudies involving a total of 130 patients, including older healthyvolunteers. APhase II study of ADX48621 to treat PD-LID is expected to start in theU.S. andEU during the fourth quarter of 2010.

"We are honored to receive this grant from The Michael J. FoxFoundationsupporting ADX48621 development," said Vincent Mutel, CEO of Addex."Thereduction in both major components of LID, which we observed afteradministeringADX48621 to non-human primates with LID, has not been reported with otherdrugson the market or in development. As a result, we believe that it couldbecomethe first drug capable of alleviating all LID symptoms."

Levodopa and dopamine agonists are effective treatments for thesigns andsymptoms of Parkinson's disease; but long-term levodopa use resultsin theemergence of side effects, especially abnormal involuntary movement,termedlevodopa-induced dyskinesia or LID. Statistics show that half ofpatientsdevelop LID during the first five years of treatment. The two maincomponents ofLID are chorea and dystonia. Chorea is manifest as sudden rapiduncontrolledmovements. Dystonia is manifest as slow writhing type movements andsustainedmuscle contractions, which can be painful.

In addition to reducing chorea, the stereotypical trembling oftenassociatedwith PD patients, ADX48621 is the first drug-candidate to effectivelyreducedystonia in the non-human primate "MPTP model" of PD-LID.

mGluR5 inhibition reduces signaling activity of the neurotransmitterglutamate.The loss of dopamine producing cells observed as a result of Parkinson'sdiseaseleads to excess of glutamatergic stimulation in the brain'sstriatopallidalpathway. The mGluR5 are found abundantly in the striatum. Because mostdrugs forPD work via the dopaminergic system, inhibition of mGluR5 could provide anoveland complementary treatment option for PD and PD-LID. Indeed, publishedresearchshows that ADX48621 and other mGluR5 inhibitors have reduced LID andgeneratedanti-Parkinsonian effects in animal models of PD-LID and Parkinson'sdisease,respectively. In addition, one small clinical study already has shownthatmGluR5 inhibition reduced LID symptoms in humans with PD-LID.

The Michael J. Fox Foundation was founded in 2000. The Michael J. FoxFoundationfor Parkinson's Research is dedicated to ensuring the development of acure forParkinson's disease through an aggressively funded research agenda.TheFoundation has funded almost $200 million in research to date.

Addex Pharmaceuticals ( discovers and developsallostericmodulators for human health and is focused on validated therapeutictargets fordiseases of the central nervous system, metabolic disorders andinflammation.Subject to regulatory approvals, Phase II clinical trials are expected tostartsoon in four indications for two lead products: ADX48621, an mGluR5negativeallosteric modulator (NAM), in dystonia and Parkinson's disease levodopa-induceddyskinesia (PD-LID); and ADX71149, an mGluR2 positive allostericmodulator(PAM), in schizophrenia and anxiety. A third product, ADX71943, GABA-BreceptorPAM with potential for chronic pain, is scheduled to enter Phase Itesting in2011. In addition, Merck & Co., Inc. has licensed rights to twopreclinicalproducts: mGluR4 PAM for Parkinson's disease and mGluR5 PAM forschizophrenia.Additional preclinical discovery stage programs include: mGluR2 NAM; GLP1RPAM;IL1R1 NAM; and TNFR1 NAM. Roche Venture Fund and SR-One, corporateventure armof GlaxoSmithKline, are investors in Addex.

Chris Maggos
Investor Relations & Communications
Addex Pharmaceuticals
+41 22 884 15 11

Disclaimer: The foregoing release may contain forward-looking statementsthatcan 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 regardingAddexPharmaceuticals Ltd, its business, the potential approval of itsproducts byregulatory authorities, or regarding potential future revenues fromsuchproducts. Such forward-looking statements reflect the current views ofAddexPharmaceuticals Ltd regarding future events, future economicperformance orprospects, and, by their very nature, involve inherent risks anduncertainties,both general and specific, whether known or unknown, and/or any otherfactorthat may materially differ from the plans, objectives, expectations,estimatesand intentions expressed or implied in such forward-looking statements.Such mayin particular cause actual results with allosteric modulators of mGluR2,mGluR4,mGluR5, mGluR7 or other therapeutic targets to be materially differentfrom anyfuture results, performance or achievements expressed or implied bysuchstatements. There can be no guarantee that allosteric modulators ofmGluR2,mGluR4, mGluR5, mGluR7 will be approved for sale in any market orby anyregulatory authority. Nor can there be any guarantee that allostericmodulatorsof mGluR2, mGluR4, mGluR5, mGluR7 or other therapeutic targets willachieve anyparticular levels of revenue (if any) in the future. In particular,management'sexpectations regarding allosteric modulators of mGluR2, mGluR4, mGluR5,mGluR7or other therapeutic targets could be affected by, among otherthings,unexpected actions by our partners, unexpected regulatory actions ordelays orgovernment regulation generally; unexpected clinical trial results,includingunexpected new clinical data and unexpected additional analysis ofexistingclinical data; competition in general; government, industry and generalpublicpricing pressures; the company's ability to obtain or maintain patent orotherproprietary intellectual property protection. Should one or more of theserisksor uncertainties materialize, or should underlying assumptions proveincorrect,actual results may vary materially from those anticipated, believed,estimatedor expected. Addex Pharmaceuticals Ltd is providing the information inthispress release as of this date and does not undertake any obligation toupdateany forward-looking statements contained in this press release as aresult ofnew information, future events or otherwise, except as may berequired byapplicable laws.


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Addex Pharmaceuticals12, chemin des Aulx Plan-les-Ouates; Geneva Switzerland

ISIN: CH0029850754;

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