Addex Therapeutics ( NASDAQ: ADXN ) and Indivior ( OTCPK:INVVY ) ( OTCPK:IZQVF ) extended the research term until June 30, 2023 of their collaboration to develop therapies for substance use disorder.
The companies had signed an agreement to discover novel oral gamma-aminobutyric acid subtype B (GABAB) positive allosteric modulator (PAM) drug candidates for treating substance use disorder.
Under the the amended agreement, North Chesterfield, Va.-based Indivior will pay Switzerland-based Addex an additional $1M to cover more research activities during this extended period.
According to the companies, the collaboration continues to advance through drug candidate selection phase.
Addex retains exclusive rights to develop its own independent GABAB PAM program and is advancing compounds in Charcot-Marie-Tooth type 1A neuropathy (CMT1A), chronic cough and pain, the company added.
"This additional research funding reflects the progress being made in our GABAB PAM research collaboration with Indivior as we evaluate novel compounds for entry into IND enabling studies for Indivior’s program in substance use disorder as well as our internal program for CMT1A, chronic cough and pain," said Mikhail Kalinichev, head of Translational Science, Addex.
Addex CEO Tim Dyer added that the company is also expecting a decision by Janssen, a unit of Johnson & Johnson, in Q1 2023 on moving ADX71149 further into clinical development based on results from the first part of a phase 2 trial in epilepsy.
ADXN +11.03% to $0.69 premarket Dec. 8
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Addex rises 10% on extended research pact with Indivior to develop substance use disorder drugs