Swiss biotech Addex Therapeutics has completed its turnaround, just a matter of months after signing a collaboration agreement with Indivior PLC, by announcing a capital raise of CHF 40m ($41.8m) from financial institutions and family offices that will allow it to advance its portfolio of allosteric receptor modulators that include the Phase III-ready lead candidate, dipraglurant.
The financing is described as transformational by company CEO Tim Dyer, because as well as supporting the development of Addex's lead program, the funding might also stimulate the signing of further collaborative agreements with industry partners, for what he believes is a world-leading allosteric modulator discovery platform
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