Addex Therapeutics Ltd

Good day and thank you for standing by. Welcome to the ADEC Therapeutics Third Quarter 2023 Financial Results and Corporate Update Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star 1-1 on your telephone keypad. You will hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Alternatively, you can submit your questions via the webcast. Please be advised that today's conference has been recorded. I would now like to hand the conference over to our speaker today, Tim Dyer. Please go ahead.

Thank you.

Hello, everyone. I would like to thank you all for attending our Q3 2023 Financial Results Conference call. I'm here with Robert Lugens, our Head of Discovery Biology, and Michael Kachef, our Head of Translational Sciences. I draw your attention to the press release and the financial statements issued earlier today, which are available on our website. I also draw your attention to our disclaimer. We will be making certain forward-looking statements that are based on the knowledge we have today. I will start this conference call by giving a quick overview of our recent achievements before handing over to Robert and Michele, who will review our clinical and preclinical pipeline. I will then review our Q3 preliminary financial results. Following that, we will open the call for Q&A. Starting with the highlights, our partner, Janssen, completed recruitment of the ADX 71149 Phase II Epilepsy Study earlier this month, and we confirmed that data is expected in Q2 2024. I'd like to remind you that an independent interim review committee established by Janssen to review the unblinded data from part one of cohort one made its recommendation to continue the study. This recommendation and the decision of Janssen to continue the study is very encouraging and suggests that 149 is safe and well tolerated and may be having a positive impact on this patient population. We have made substantial progress in our collaboration with our partner, Indivior, and advancing several novel GABA-B compounds through candidate selection. As a reminder, Indivior's primary interest is in substance use disorder, and under the agreement, we have retained the right to select drug candidates for development in certain exclusive reserved indications. We are focusing our independent program on COFF, During Q3, we have continued to advance compounds through clinical candidate selection, multiple compounds showing excellent efficacy in multiple preclinical . In Q3, we announced the extension of our collaboration through June 2024, with 2.7 million Swiss francs of additional research funding committed by Indivior. We expect Indivior and ourselves to select compounds to advance into ING-enabling studies in 2024. We lead a consortium which has secured 4 million Euro grant to advance our mGluR2 negative modulator cognition program through lead optimization to clinical candidate selection phase. We also continue to believe there is value in diproglurant, our phase two ready compound, and have substantially completed our evaluation of the future development Post-stroke recovery is an interesting area for future development and are currently profiling preclinical models of post-stroke recovery. Furthermore, preclinical data was recently published in the journal Brain, which strongly supports the rationale for the inhibition of F5 receptors as a treatment for post-stroke recovery and the development of diprocloron in this important unmet medical need. We are in parallel pursuing discussions with potential partners to advance future development of Diplorant. And last but not least, our M4 PAM program for schizophrenia, which is now a priority program for us, continues to make rapid progress through clinical candidate selection based and is on track to start IND enabling studies in the second half of next year. From a financial perspective, we continue to pursue discussions with potential partners across the portfolio and tightly control costs. As of today, we estimate that our cash reserve provides us with a runway through Q1 2024. Now I will hand over to Robert, who will give you some more details about our existing pipeline.