Addex Licensee Completes Enrolment of 120 Patients in a Phase 2 Clinical Trial of ADX71149 for the Treatment of Anxious Depression

| Source: Addex Therapeutics

GENEVA, Oct. 29, 2013 (GLOBE NEWSWIRE) --

On track to report top line results end of Q1 2014

Addex Therapeutics (SIX: ADXN), a leading
company  pioneering allosteric  modulation-based drug  discovery and development
announced  today that Janssen Research &  Development, LLC, on behalf of Janssen
Pharmaceuticals,   Inc.,   has   completed   enrollment  of  120 patients  in  a
multicenter,  double-blind,  Phase  2 study  of  ADX71149   in adults with major
depressive disorder who are also suffering anxiety symptoms.

"The  completion  of  enrolment  in  this  second  Phase 2 study is an important
achievement  and demonstrates both the significant potential of ADX71149 and the
commitment  of Janssen to advance ADX71149  to this stage of development," noted
Tim  Dyer, CEO at Addex.  "There has been little  innovation recently in the way
that  patients with  both depression  and anxiety  are treated.  This provides a
significant  medical and market  opportunity for an  innovative approach such as
ADX71149 for treating this important psychiatric condition."

The multicenter, double-blind, placebo-controlled study to evaluate the efficacy
and  overall  safety  and  tolerability  of  ADX71149  (  ref.
NCT01582815)  is being conducted as an adjunctive treatment to an antidepressant
in  120 adults with major depressive disorder  with anxiety symptoms and partial
response to SSRI/SNRI (HDRS ³ 18 and Anx/Som Factor ³ 7). Oral ADX71149 is being
administered  twice-daily at doses ranging from 25mg to 150mg. Patients continue
to take the same daily dose of their antidepressant. The primary endpoint of the
study is the change from baseline in the 6-item subscale of the Hamilton Anxiety
Rating scale (HAM-A6) score. Secondary endpoints include change from baseline of
several  other  clinician-administered  rating  scales  designed  to  assess the
severity of depression and anxiety symptoms.

About mGlu2 Activation and ADX71149
ADX71149  is  a  novel,  first-in-class  potent,  oral,  small molecule positive
allosteric  modulator  (PAM)  of  metabotropic  glutamate  receptor 2 (mGlu2), a
Family C class of G Protein Coupled Receptor (GPCR). The development of ADX71149
is  part of  a worldwide  research collaboration  and license  agreement between
Addex and Janssen Pharmaceuticals, Inc. to discover, develop and commercialize a
novel  mGluR2 PAM  medication for  the treatment  of anxiety,  schizophrenia and
other  undisclosed  indications.  Under  the  terms  of  the agreement, Addex is
eligible  for  up  to  a  total  of  €112 million in milestone payments based on
potential  development  and  regulatory  achievements.  In  addition,  Addex  is
eligible  for low double-digit  royalties on sales  of any mGluR2 PAM medication
developed  under  the  agreement.   In  a  phase 2 clinical trial of ADX71149 in
schizophrenia  patients, ADX71149 demonstrated positive effects in schizophrenia
patients suffering from residual negative symptoms.

About Anxious Depression
Unipolar  depression  is  the  leading  cause  of disability worldwide (2008 WHO
Global  Burden of Disease Report) and  anxiety symptoms are commonly reported in
major  depressive  disorder  (MDD)  patients.  85% of  adults  with  MDD exhibit
significant   anxiety   symptoms   (Gorman,   1996); and   approximately  50% of
outpatients  with MDD  have a  comorbid anxiety  disorder, 58% lifetime (Fava et
al.,  2000; Kessler  et  al.,  1996). Comorbid  anxiety  results  in more severe
depressive  symptoms, increased  suicide risk,  more chronic  course, poorer and
slower  treatment  response,  greater  functional  and  occupational impairment,
increased   societal  burden/socioeconomic  costs,  and  increased  health  care
utilization.  The first line  treatments for MDD  patients with comorbid anxiety
are  SSRIs  and  SNRIs,  however,  this  subpopulation  is  less  responsive and
continues   to   demonstrate  a  great  unmet  need.  Adjunctive  treatments  to
SSRIs/SNRIs  for  anxious  depression  result  in  significant added side effect
burden  and  are  often  poorly  tolerated  in  long  term treatment. The STAR*D
clinical  study, the largest effectiveness  study evaluating next-step therapies
in real-world patients with major depressive disorder, showed that patients with
anxious depression were less likely to achieve remission or respond to treatment
than those with non-anxious depression (Fava et al. 2008).

About Addex Therapeutics
Addex  Therapeutics (  is a  development stage company
focused  on  advancing  innovative  oral  small  molecules against rare diseases
utilizing  its pioneering  allosteric modulation-based  drug discovery platform.
The  Company's  two  lead  products  are  being investigated in Phase 2 clinical
testing:  dipraglurant (an mGlu5 negative allosteric  modulator or NAM) is being
developed by Addex to treat Parkinson's disease levodopa-induced dyskinesia (PD-
LID)  and  rare  forms  of  dystonia;  and  ADX71149  (mGlu2 positive allosteric
modulator   or   PAM)   is   being   developed  in  collaboration  with  Janssen
Pharmaceuticals,  Inc.,  to  treat  both  schizophrenia  and  anxiety as seen in
patients  suffering  from  major  depressive  disorder.  Addex  also has several
preclinical  programs  including:  GABAB  receptor positive allosteric modulator
(PAM)  for Charcot-Marie-Tooth  (type 1a) disease,  spasticity in  patients with
multiple sclerosis (MS), pain, overactive bladder and other disorders; and mGlu4
PAM  for  MS,  Parkinson's  disease,  anxiety  and  other  diseases.  Allosteric
modulators  are  an  emerging  class  of  small  molecule  drugs  which have the
potential to be more specific and confer significant therapeutic advantages over
conventional  "orthosteric" small molecule or biological drugs. The Company uses
its  proprietary discovery platform to target  receptors and other proteins that
are recognized as essential for the therapeutic modulation of important diseases
with unmet medical needs.

Tim Dyer
Chief Executive Officer
Addex Therapeutics
+41 22 884 1561

Disclaimer:  The foregoing  release may  contain forward-looking statements that
can be identified by terminology such as "seek", "not pursue", "not approvable",
"continue",   "believes",  "believe",  "will",  "remained  open  to  exploring",
"would",  "could", or similar expressions, or  by express or implied discussions
regarding  Addex  Therapeutics,  formerly  known  as, Addex Pharmaceuticals, its
business,  the potential approval of its  products by regulatory authorities, or
regarding  potential future  revenues from  such products.  Such forward-looking
statements  reflect  the  current  views  of Addex Therapeutics regarding future
events,  future economic  performance or  prospects, and,  by their very nature,
involve  inherent risks  and uncertainties,  both general  and specific, whether
known or unknown, or any other factor that may materially differ from the plans,
objectives,  expectations, estimates and intentions expressed or implied in such
forward-looking  statements. Such factors may in particular cause actual results
with  allosteric modulators of mGlu2, mGlu4, mGlu5, GABA-BR or other therapeutic
targets  to  be  materially  different  from  any future results, performance or
achievements  expressed or implied by such statements. There can be no guarantee
that  Addex Therapeutics  will complete  the restructuring  and reduction of its
liabilities  or any  financing nor  that allosteric  modulators of mGlu2, mGlu4,
mGlu5,  GABA-BR or other therapeutics  targets will be approved  for sale in any
market  or by  any regulatory  authority. Nor  can there  be any  guarantee that
allosteric  modulators  of  mGlu2,  mGlu4,  mGlu5,  GABA-BR or other therapeutic
targets will achieve any particular levels of revenue (if any) in the future. In
particular,  management's expectations regarding allosteric modulators of mGlu2,
mGlu4,  mGlu5, GABA-BR or other therapeutic  targets could be affected by, among
other  things, unexpected actions by our partners, unexpected regulatory actions
or delays or government regulation generally; unexpected clinical trial results,
including  unexpected new  clinical data  and unexpected  additional analysis of
existing clinical data; competition in general; government, industry and general
public  pricing pressures; the company's ability to obtain or maintain patent or
other  proprietary intellectual property protection. Should one or more of these
risks  or  uncertainties  materialize,  or  should  underlying assumptions prove
incorrect,  actual results may vary materially from those anticipated, believed,
estimated  or expected. Addex Therapeutics is  providing the information in this
press  release as of this  date and does not  undertake any obligation to update
any  forward-looking statements contained  in this press  release as a result of
new  information,  future  events  or  otherwise,  except  as may be required by
applicable laws.