Addex Therapeutics: Addex Spin-out Neurosterix Closes $105 Million Series B Financing
Addex Therapeutics (ADXN) announced its spin-out, Neurosterix, closed a $105M Series B financing. Addex holds an 8.5% stake in Neurosterix, valued at $18.6M. Funds will support Phase 2 trials for NTX-253, a schizophrenia treatment. Neurosterix's pipeline includes treatments for neuropsychiatric disorders.
How this was made
The 30-second read
Why it matters
The $105 M Series B financing provides critical funding for Neurosterix’s Phase 2 program, validates Addex’s technology, and may boost Addex’s share price.
Market read
A large, first‑report capital raise for a biotech spin‑out, likely to move Addex’s ADR on the day of announcement.
What to watch
The spin‑out’s future cash‑burn and reliance on Phase 2 success could temper enthusiasm.
Background
Addex Therapeutics (NASDAQ: ADXN) is a clinical‑stage biopharma focused on allosteric modulators for neurological disorders. Its spin‑out Neurosterix is developing M4 PAMs for schizophrenia.
Ticker impact
Addex Therapeutics announced its spin‑out Neurosterix closed a $105 million Series B financing, its equity stake now 8.5% of Neurosterix.
likely upward pressure as investors price in the large capital raise and validation of the pipeline
The $105 M raise is a primary disclosure, sizable for a biotech, and directly benefits Addex’s valuation.
Market effects
strengthens confidence in allosteric modulators within the neuro‑psychiatric biotech sector
positive for Swiss‑listed biotech and US ADRs with similar pipelines
adds momentum to biotech capital‑raising trends worldwide
Counterpoint
If the financing dilutes Addex’s stake further, some investors may view it as a downside risk.
Key entities
- companyAddex Therapeutics
Parent biopharma announcing the financing.
- companyNeurosterix
Spin‑out receiving the Series B financing.
