On April 3, 2024, Addex Therapeutics, a clinical-stage biopharmaceutical company,listed on the SIX Swiss Exchange and on the Nasdaq, and funds affiliated with Perceptive Advisors, an investment management firm focused on the life sciences sector, announced the launch of Neurosterix, a company focused on developing allosteric modulators for the treatment of underserved neurological disorders.
With initial funding of USD 63 million from Perceptive Xontogeny Venture Fund II, with participation from Perceptive Life Sciences Fund and Acorn Bioventures, Neurosterix acquired a portfolio of preclinical assets and the allosteric modulator drug discovery technology platform from Addex in view of accelerating their development. In return, Addex received CHF 5 million and a 20% equity interest in Neurosterix. Addex will retain its partnerships with Janssen Pharmaceuticals, Inc. and Indivior PLC, as well as unpartnered clinical stage assets including dipraglurant for Parkinson’s disease and post-stroke/TBI recovery as well as its preclinical GABAB positive allosteric modulator (PAM) program for chronic cough.
Homburger advised Addex in this transaction. The Homburger team comprised Frank Gerhard, Romain Fakhoury, Fabio Gasser, Paula Delissen (all Corporate / M&A), Jeremy Reichlin (Employment) and Peter Müller (Tax).