GENEVA, SWITZERLAND–(EMWNews – July 28, 2008) – Addex Pharmaceuticals is pleased to

announce the appointment of Laurent Galibert to its executive management

team, as head of the Addex Inflammation Business Unit.

Vincent Mutel, CEO, said, “I am confident that Dr. Galibert’s expertise and

leadership in inflammation and immunology will attract an exciting team of

experienced inflammation researchers to Addex. Along with CNS and metabolic

disorders, inflammation is an important therapeutic area where we have

identified low-hanging fruit in the form of clinically validated targets

where orally available allosteric modulators can provide significant

improvements over injectable drugs on the market and in development.”

Immediately prior to joining Addex Dr. Galibert was senior staff scientist

at Merck Serono. From 1996-2005 he held successive research positions at

Immunex Corp. (acquired by Amgen Inc.) and Amgen, where he cloned the

receptor activator of nuclear factor kappa B ligand (RANKL) and co-authored

the initial patent leading to the development of Amgen’s denosumab, a

monoclonal antibody against RANKL, which is in Phase III development for

postmenopausal osteoporosis and in clinical development for other

indications. From 1991-1995 Dr. Galibert was a PhD fellow at

Schering-Plough.

“I am excited to help focus the Addex allosteric modulation discovery and

development platform on high value clinically validated inflammation

targets that have been intractable to other types of small molecule

chemistry,” Galibert said.

About Addex

Addex Pharmaceuticals discovers and develops allosteric modulators for

human health. Allosteric modulators are an emerging class of orally

available small molecule therapeutic agents that we believe will offer

patients better results than classical drugs. Most marketed drugs bind

receptors where the body’s own natural molecular activators (i.e.

endogenous ligands) bind, specifically to a key part of each receptor’s

anatomy called the “active site”. In short, most drugs must out-compete

endogenous ligands for the active site. By contrast, allosteric modulators

are non-competitive because they bind receptors and modify their function

even if the endogenous ligand also is binding it. In addition, because of

this, allosteric modulators aren’t limited to simply turning a receptor on

or off, the way most drugs are. Instead, they act more like a dimmer

switch, offering control over the degree of activation or deactivation,

while offering the body the ability to maintain control over initiating

receptor activation. Furthermore, the allosteric approach generally affords

freedom to operate – even on well-known, clinically validated targets –

because the intellectual property surrounding allosteric chemistry and the

allosteric sites on receptors is most often un-exploited.

ADX10059, our most advanced product, is an mGluR5 NAM (metabotropic

glutamate receptor 5 negative allosteric modulator). It has demonstrated

clinically and statistically significant efficacy in separate Phase IIa

clinical trials in gastroesophageal reflux disease (GERD) patients and

migraine headache patients and has potential in additional indications.

The Addex allosteric modulation discovery and development platform have

been additionally validated through three seperatate product license or

collaboration agreements with Merck & Co., Inc. and Johnson & Johnson as

well as investments by Roche Ventures and SR One, the venture investment

arm of GlaxoSmithKline.

Disclaimer

The foregoing release contains forward-looking statements that can be

identified by terminology such as “not approvable”, “continue”, “believes”,

“believe”, “will”, “remained open to exploring”, “would”, “could”, or

similar expressions, or by express or implied discussions regarding Addex

Pharmaceuticals Ltd, its business, the potential approval of its products

by regulatory authorities, or regarding potential future revenues from such

products. Such forward-looking statements reflect the current views of

Addex Pharmaceuticals Ltd regarding future events, and involve known and

unknown risks, uncertainties and other factors that may cause actual

results with allosteric modulators of mGluR4, mGluR2, mGluR5 or other

therapeutic targets to be materially different from any future results,

performance or achievements expressed or implied by such statements. There

can be no guarantee that allosteric modulators of mGluR4, mGluR2 or mGluR5

will be approved for sale in any market or by any regulatory authority. Nor

can there be any guarantee that allosteric modulators of mGluR4, mGluR2,

mGluR5 or other therapeutic targets will achieve any particular levels of

revenue (if any) in the future. In particular, management’s expectations

regarding allosteric modulators of mGluR4, mGluR2, mGluR5 or other

therapeutic targets could be affected by, among other things, unexpected

actions by our partners, unexpected regulatory actions or delays or

government regulation generally; unexpected clinical trial results,

including unexpected new clinical data and unexpected additional analysis

of existing clinical data; competition in general; government, industry and

general public pricing pressures; the company’s ability to obtain or

maintain patent or other proprietary intellectual property protection.

Should one or more of these risks or uncertainties materialize, or should

underlying assumptions prove incorrect, actual results may vary materially

from those anticipated, believed, estimated or expected. Addex

Pharmaceuticals is providing the information in this press release as of

this date and does not undertake any obligation to update any forward-

looking statements contained in this press release as a result of new

information, future events or otherwise.

Deutsch (PDF): http://hugin.info/138017/R/1238553/265049.pdf

English (PDF): http://hugin.info/138017/R/1238553/265050.pdf

Français (PDF): http://hugin.info/138017/R/1238553/265055.pdf