Addex also raised $5m in funding for providing a cash runway to achieve development milestones for drug partnerships with Janssen and Indivior. Image Credit: Golden Sikorka / Shutterstock.
The new agreement will extend until 30 June 2024, and Addex will receive SFr2.7m ($3m) from Indivior for drug research and discovery. Furthermore, Addex will retain exclusive rights to an independent GABAB PAM programme for treating chronic cough.
The agreement started in 2018, with an initial upfront payment of $5m and milestone-based payments of up to $330m. The companies have extended the partnership multiple times with additional payments from Indivior.
Addex CEO Tim Dyer said: “We are excited to continue working closely with Indivior in this promising application of our allosteric modulator discovery platform.”
Addex also raised $5m in funding for providing a cash runway to achieve development milestones for drug partnerships with Janssen and Indivior, as per the 5 April 2023 press release.
Following a review of cohort I data by the Independent Interim Review Committee in May 2023, the companies plan to continue the study. The study’s cohort I has progressed to Part II and cohort II is currently recruiting patients.