BioWorld Today

BioWorld Today: "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.

Also in development...ADX50938, which also acts on mGluR5, is in development for schizophrenia and Alzheimer's disease."