Addex drug candidate effective

Addex Pharmaceuticals / Addex drug candidate effective in osteoarthritispain model processed and transmitted by Hugin AS. The issuer is solelyresponsible for the content of this announcement.

Geneva, Switzerland, 13 July 2010 - Allosteric modulation companyAddexPharmaceuticals Ltd. (SWISS: ADXN) announced today that itspreclinical drugcandidate ADX71943 was effective in a model of osteoarthritis pain.ADX71943 isa makeup brush potent and selective positive allosteric modulator of gamma-aminobutyricacidsubtype B (GABA-B) receptors. GABA-B receptors mediate the slow,prolongedphysiological effects of the inhibitory neurotransmitter GABA and areimplicatedin pain processing. Phase I clinical testing is scheduled to start bythe endof 2010.

"We believe the allosteric mechanism of ADX71943 is the key factorin thedifferentiated tolerability and lack of tolerance development observed inthesepreclinical studies. We look forward to testing this compound in humans,wherewe hypothesize that this product could provide not only a noveltreatment forosteoarthritis pain, but also an important opioid-sparing therapy forotherchronic pain indications," Addex CEO Vincent Mutel said.

The effects of ADX71943 on mechanical hyperalgesia (increased painsensitivity)and mechanical allodynia (pain produced by a normally innocuous stimulus)wereassessed in the monosodium iodoacetate (MIA) model of osteoarthritis, amodel ofchronic nociceptive pain. ADX71943 significantly reduced mechanicalhyperalgesiaand showed a trend toward reducing mechanical allodynia after bothacute andsub-chronic (8 days) dosing. Statistically significant antihyperalgesicactivitywas observed on the first day and was maintained on day 8, despiteincreasedpain severity.

A maximal effect of ADX71943 was already achieved with the lowest dosetested (1mg/kg). The efficacious plasma concentration (corresponding to 1mg/kg) wasapproximately 30-50 ng/mL. Importantly, no development of tolerance wasobservedduring the eight day treatment period.

Addex reported previously that ADX71943 is orally efficacious in rodentmodelsof inflammatory pain (formalin test and Complete Freund's Adjuvant-inducedhypersensitivity) and visceral pain (acetic acid-induced writhing).ADX71943also displays an improved tolerability profile with reduced sideeffectscompared to baclofen.

Baclofen, a marketed generic orthosteric GABA-B receptor agonist, hasshownanalgesic effects in animal models of inflammatory and neuropathic pain.Therealso is some evidence of analgesic activity of baclofen in patientswithneuropathic and cancer pain, although its use in patients is limited by CNSsideeffects.

Addex Pharmaceuticals ( ) discovers and developsallostericmodulators for human health and is focused on validated therapeutictargets fordiseases of the central nervous system, metabolic disorders andinflammation.Subject to the completion of Phase I testing and regulatory approvals,Phase IIclinical trials are expected to start in 2010 in four indications for twoleadproducts: ADX48621, an mGluR5 negative allosteric modulator (NAM), indystoniaand Parkinson's disease levodopa-induced dyskinesia (PD-LID); andADX71149, anmGluR2 positive allosteric modulator (PAM), in schizophrenia andanxiety.ADX71149 is licensed to Ortho-McNeil-Janssen Pharmaceuticals Inc. Inaddition,Merck & Co., Inc. has licensed rights to two preclinical products:mGluR4 PAMfor Parkinson's disease and mGluR5 PAM for schizophrenia. Additionalpreclinicaldiscovery stage programs include: mGluR2 NAM, GLP1R PAM, IL1R1 NAM andTNFR1NAM. Roche Venture Fund and SR-One,
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