On April 26, 2021 Addex Therapeutics Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, reported that it has increased its share capital from 39,748,635 to 49,272,952 through the issue of 9,524,317 new registered shares at a nominal value of CHF1 each to Addex Pharma S.A, its 100% wholly-owned subsidiary (Press release, Addex Therapeutics, APR 26, 2021, View Source [SID1234578461]). The new shares, issued from the Company’s authorized capital, are listed on the SIX Swiss Exchange. The transaction has been executed to provide the Group with additional future financing flexibility.

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"This transaction provides us with financing flexibility as we advance two programs into clinical trials, including our lead program dipraglurant for Parkinson’s disease levodopa-induced dyskinesia, and four programs towards IND-enabling studies," said Tim Dyer, CEO of Addex. "We also look forward to the start of our third clinical program, ADX71149 for epilepsy which is being executed by our partner, Janssen Pharmaceuticals Inc."