Addex and Perceptive Advisors unveil Neurosterix, backed by a hefty $63 million investment, to revolutionise treatment for neurological disorders.

Addex Therapeutics, a pioneering Swiss biopharmaceutical company at the forefront of allosteric modulation drug development, has joined forces with Perceptive Advisors, a notable life sciences-focused investment management firm, to introduce Neurosterix.

This new venture is poised to transform the landscape of neurological disorder treatments with its focus on developing allosteric modulators. According to a press release.

Fuelled by a $63 million initial investment from Perceptive Xontogeny Venture Fund II, alongside contributions from Life Sciences Fund and Acorn Bioventures, Neurosterix is set to acquire a portfolio of promising preclinical assets along with an allosteric modulator tech platform from Addex.

This strategic move is aimed at expediting the development of these assets. In recognition of its contribution, Addex will be compensated with CHF5 million and 20% equity stake in Neurosterix, while still maintaining its alliances with Janssen Pharmaceuticals, Inc., and Indivior PLC, and continuing the development of its clinical and preclinical programs.

Tim Dyer, CEO of Addex, expressed enthusiasm about the partnership with Perceptive, highlighting it as a testament to the potential of Addex’s allosteric modulator technology. The collaboration is expected to significantly propel the development of key preclinical assets, marking a significant stride in neurological disorder treatment.

Allosteric modulators offer a novel therapeutic approach by binding to receptor sites distinct from where traditional drugs act, potentially offering more targeted and effective treatments with fewer side effects.