• Monday, March 5, 2018 @ 12:00 am

Geneva, Switzerland, 5 March 2018 - Addex Therapeutics (SIX: ADXN), the leading developer of oral allosteric modulators for neurological disorders, announced today that the Company has secured investor commitments for all CHF40 million of its planned capital increase following successful completion of the book building process launched on 15 February.

As previously announced, Addex' Board of Directors will seek shareholder approval at the Extraordinary General Meeting (EGM) on Friday, 16th of March 2018 to increase its share capital by issuing 12,779,553 new shares at a price of CHF3.13. Each new share will receive a 7 year warrant to purchase 0.45 of a share at a price of CHF3.43. The first trading day of the newly issued shares is expected to be on or around the 28 March 2018. The gross proceeds, of CHF40 million net of certain costs and expenses associated with the placement, will be used to advance Addex's portfolio of drug candidates, including registration studies for lead program, dipraglurant, for levodopa-induced dyskinesia associated with Parkinson's disease (PD-LID).

"With commitment for CHF30 million in place from leading US investors, we received strong demand for the remaining CHF10 million, so are delighted to have secured our final target of CHF40 million during the book building process," said Tim Dyer, CEO of Addex. "Following shareholder approval at the EGM, this significant cash injection will allow us to advance our portfolio of exciting first-in-class allosteric modulator drug candidates further through clinical development and unlock significant value for our shareholders."

The share offering was conducted as a private placement of shares and warrants in Switzerland and abroad to qualified institutional investors, subject to certain limitations based on residency, in compliance with applicable securities laws.

MTS Securities, LLC acted as the lead and institutional US placement agent in connection with the placing. Herculis Partners SA, Kepler Cheuvreux SA, Octavian AG and Semper Finance Group SA also acted as placement agents in the offering.

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