Addex Spin-Out Neurosterix Initiates Phase 1 Clinical Study for Schizophrenia Drug NTX-253

summarizeSummary

Addex Therapeutics announced that its spin-out, Neurosterix, has commenced a Phase 1 clinical study for NTX-253, a potential schizophrenia treatment, in which Addex holds a 20% equity interest.

check_boxKey Events

• Phase 1 Study Commences

  Neurosterix, a spin-out of Addex Therapeutics, has initiated a Phase 1 clinical study for NTX-253, a positive allosteric modulator (PAM) of the muscarinic M4 receptor, for the treatment of schizophrenia.

• Novel Therapeutic Approach

  NTX-253 represents a new approach to treating schizophrenia by selectively modulating the M4 receptor, with the potential to offer a differentiated efficacy and safety profile compared to traditional dopamine receptor antagonists.

• Addex Retains Equity Stake

  Addex Therapeutics holds a 20% equity interest in Neurosterix, which secured $65 million in Series A financing in April 2024, providing Addex with potential future value from the program's success.

auto_awesomeAnalysis

The initiation of a Phase 1 clinical study for NTX-253 by Neurosterix, a spin-out company, marks a significant advancement in the development of a novel treatment for schizophrenia. While the program is not directly owned by Addex, the company retains a 20% equity interest in Neurosterix, providing a pathway for future value creation. This milestone validates the scientific approach and the potential of M4 PAMs, which could offer a differentiated profile from current antipsychotics. Investors should monitor Neurosterix's progress as successful clinical development could positively impact Addex's valuation through its equity stake.