Article: Addex Brings In CHF40M For CNS Product Studies.

BioWorld International Correspondent

Addex Pharmaceuticals SA raised CHF40 million (US$31.9 million) in a Series C financing to fund Phase II trials of its lead compound, ADX10059, a negative allosteric modulator of metabotropic glutamate receptor 5 (mGluR5), in three different indications.

Two big pharma-backed venture capital funds joined the Geneva-based company's roster of investors. SR One, of West Conshohocken, Penn., the venture capital arm of London-based GlaxoSmithKline plc, led the round, while the Roche Venture Fund, backed by F. Hoffmann-La Roche Ltd., of Basel, Switzerland, also participated. Existing investors Sofinnova Partners, Index ...

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