June 16, 2020 / 5:25 AM / 23 days ago

BRIEF-Addex Therapeutics' mGlu2 PAM Enters Epilepsy Phase 2A Clinical Study

June 16 (Reuters) - ADDEX THERAPEUTICS LTD:

* ADDEX MGLU2 PAM PROGRAM TO ADVANCE INTO EPILEPSY PHASE 2A PROOF OF CONCEPT CLINICAL STUDY

* THE MULTI-CENTER STUDY IS SCHEDULED TO BEGIN DOSING PATIENTS IN THE UNITED STATES EARLY 2021.

* JANSSEN PHARMACEUTICALS, INC., PART OF THE JANSSEN PHARMACEUTICAL COMPANIES OF JOHNSON & JOHNSON, IS RESPONSIBLE FOR THE CLINICAL DEVELOPMENT AND COMMERCIALIZATION OF JNJ-40411813 (ADX71149) UNDER THE TERMS OF A LICENSING AGREEMENT WITH ADDEX

* ADDEX GRANTED JANSSEN AN EXCLUSIVE WORLDWIDE LICENSE TO DEVELOP AND COMMERCIALIZE MGLU2 PAM COMPOUNDS

* ADDEX IS ELIGIBLE FOR UP TO A TOTAL OF €109 MILLION IN SUCCESS-BASED DEVELOPMENT AND REGULATORY MILESTONE PAYMENTS

* IN ADDITION, ADDEX IS ELIGIBLE FOR LOW DOUBLE-DIGIT ROYALTIES ON NET SALES OF COMPOUNDS DEVELOPED UNDER THE AGREEMENT. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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