Investee Company – Addex Pharmaceuticals (Switzerland)
Investee Company Business Type – Biopharmaceuticals company
Type of Financing – Start-up
Equity Providers – Index Ventures, Sofinnova Partners, TVM (Techno Venture Management), BCV Initial Capital, and Individual Investors.
Equity Leader (Individual) – Richard Rimer (Index Ventures) & Antoine Papiernik (Sofinnova Partners)
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – CHF 15.75 million (euro10.6 million)
Total Deal Value – CHF 15.75 million (euro 10.6 million)
Other Advisors – N/A
Comments – Addex Pharmaceutical has today announced the completion of its first round of venture capital financing. The deal, lead by Index Ventures and Sofinnova Partners, and including TVM and BCV Initial Capital is worth CHF 15.75 million (euro 10.6 million).
Based in Geneva, Switzerland, Addex is a biopharmaceuticals company which discovers, develops and markets novel therapeutic compounds for the treatment of addiction and other neuropsychiatric conditions. The company develops pharmacological interventions that could reduce or eliminate drug use, prevent relapse, relieve withdrawal symptoms, and reduce morbidity and/or mortality. Addex is also seeking to in-license drugs in various stages of development, including drugs that are already in clinical trials for the treatment of dependence.
Addex’s core management team, which has collaborated for many years, includes scientists with complementary skill sets and extensive experience in the pharmaceutical industry. François Conquet serves as CEO, Mark Epping-Jordan as CSO, Timothy Dyer as CFO and Vincent Mutel as head of drug discovery and development.
“Addiction is a large under-served market and significant public health issue. Addex Pharmaceuticals is targeting this market with a focus on nicotine, alcohol, cocaine and opiate dependence,” said Francois Conquet, CEO of Addex Pharmaceuticals. “We will also explore other indications related to the addiction process including anxiety and depression.”
Antoine Papiernik, general manager at Sofinnova Partners, commented: “The calibre of the team and their collective scientific and industry expertise, focused in this important field, will have a huge impact in the treatment of addition.”
Richard Rimer, partner at Index Ventures, added: ” Addex Pharmaceuticals is unique in taking a comprehensive approach to addressing addiction, starting with scientific discovery and moving all the way through product development and marketing.”