Addex CEO Vincent Mutel Interviewed by Ram Selvaraju

• Chapters
• 1. Dim That Receptor Activity with Addex’s Allosteric Modulation
• 2. Addex’s New Lead Molecule ADX48621, Expected To Be Partnered Soon?
• 3. December 2009, A Major Setback for Addex. Use of Cash, and Other Pipeline Molecules
• 4. ADDEX Undervalued? What Could Drive Stock Price In The Next 6 Months

1. Dim That Receptor Activity with Addex’s Allosteric Modulation

Ram Selvaraju asks Vincent Mutel, CEO of Addex, about allosteric modulation technology. In essence, it offers regulation of the efficiency of receptors, as opposed to the on / off switch of more traditional drugs. Ram and Vincent discuss the safety profile, and the potential not to induce desensitization. Finally, the business model is reviewed, with Merck and Johnson & Johnson collaborations, and value creation objectives for shareholders through commercialization of their own molecule

2. Addex’s New Lead Molecule ADX48621, Expected To Be Partnered Soon?

ADX48621 is the lead molecule in Addex’s pipeline. Ram Selvaraju challenges Vincent Mutel on upcoming clinical news and strategic objectives. With 110+ patients enrolled across 3 completed phase 1 trials, ADX48621 is expected to initialized it’s Phase 2B in Q410. Results are expected for late 2011 / early 2012. Vincent plans to partner ADX48621, perhaps in the near term, before getting his Phase 2 data. ADX48621’s lead indication is Parkinson’s disease levodopa associated dyskinesia (PD-LID), with potential in multiple indications.

3. December 2009, A Major Setback for Addex. Use of Cash, and Other Pipeline Molecules

The clinical trials for Addex’s former lead molecule ADX10059 were brought to halt in December 2009, after findings of hepatotoxicity. Can ADX10059 be salvaged, or is it a “dead horse”? Ram Selvaraju inquires about the future of ADX10059, Addex’s cash runway, and projected use of funds, as well the status of other pipeline molecules. In addition to the new lead ADX48621, Addex plans to develop and co-promote a GABA-B positive allosteric modulator for osteoarthritis, and develop and out-license the first fish follicle stimulating hormone receptor (FSHR) negative allosteric modulators first for benign prostatic hyperplasia (BPH), a known precursor to prostate cancer.

4. ADDEX Undervalued? What Could Drive Stock Price In The Next 6 Months

Finally, Ram Selvaraju and Vincent Mutel discuss the current valuation of Addex. Reviewed are the platform’s value and the near term catalysts. With a strong cash position, several partnerships, business development activity, and an expected Phase 2 by the end of the year, Vincent believes in a significant upside for the long term. Additionally, with the obvious product differentiation and innovation, Vincent presents a future for Addex that will undoubtedly be brighter.

Featuring:

• Vincent Mutel, PhD Chief Executive Officer, Addex Pharmaceuticals
• Raghuram “Ram” Selvaraju, Ph.D. MBA, Senior Vice President, Head of Healthcare Research, Hapoalim Securities USA, Inc.

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