Addex And Perceptive Launch Neurosterix With $63M To Accelerate Development Of Allosteric Modulator Therapeutics For Neurological Disorders
Portfolio Pulse from Benzinga Newsdesk
Addex and Perceptive Advisors have launched Neurosterix, a new venture focused on developing allosteric modulator therapeutics for neurological disorders, with a $63M investment. Addex contributes its portfolio of preclinical neuroscience assets and its discovery technology platform, receiving CHF5M and a 20% share in Neurosterix.
April 03, 2024 | 5:36 am
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Addex Therapeutics contributes its preclinical neuroscience assets and discovery technology to Neurosterix, receiving CHF5M and a 20% stake in the venture.
The formation of Neurosterix with a substantial investment and the contribution of Addex's assets are likely to be viewed positively by the market. The financial gain and equity stake in Neurosterix could provide Addex with a significant upside, especially if the venture's focus on neurological disorders leads to successful therapeutic developments. This strategic move not only brings immediate financial benefit but also aligns Addex with a promising new venture in a critical area of medicine, potentially enhancing its market position and future revenue prospects.
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