I know this is "old" news...but I don't see it posted here...


Addex Pharmaceuticals: Addex Awarded Michael J. Fox Foundation Grant for ADX48621 to treat Levodopa-Induced Dyskinesia in Parkinson's Disease

* Reuters is not responsible for the content in this press release.

Tue Sep 7, 2010 6:03pm EDT

Geneva, Switzerland, 8 September 2010 - Allosteric modulation company Addex Pharmaceuticals Ltd (SIX:ADXN) announced today that it has been awarded a $900,000 grant from The Michael J. Fox Foundation (MJFF) to help fund a Phase II study of ADX48621 for the treatment of Parkinson's disease levodopa-induced dyskinesia (PD-LID). Patients with PD can live 10-20 years after diagnosis; however, LID is a leading cause of disability in this growing patient population.

ADX48621 is a metabotropic glutamate receptor 5 (mGluR5) negative allosteric modulator (NAM). It already has successfully completed Phase I testing in three studies involving a total of 130 patients, including older healthy volunteers. A Phase II study of ADX48621 to treat PD-LID is expected to start in the U.S. and EU during the fourth quarter of 2010.