Leonildo Delgado's questions to Addex Therapeutics Ltd (ADXN) leadership • Q1 2024
Question
Leonildo Delgado inquired about the potential financial upside from the Neurosterix deal beyond the initial CHF 5 million payment and asked for the expected timeline for Janssen's decision on the ADX71149 epilepsy program.
Answer
Executive Timothy Dyer explained that Addex's 20% equity in Neurosterix, valued at approximately $20 million post-transaction, represents the primary upside, with no further milestones or royalties. He highlighted the significant potential by referencing recent multi-billion dollar M&A deals for similar M4 PAM assets. Regarding the epilepsy program, Dyer stated that full data analysis from partner Janssen is expected in H2 2024, likely Q3, after which next steps will be determined. He noted that a termination of the collaboration and return of the asset to Addex is a 'reasonably probable outcome'.