Addex Pharma today took a step up the dealmaking ladder, partnering its pre-IND positive allosteric modulator ADX63365 and back-up compounds with Merck & Co. for $22 million upfront plus milestones and royalties. Addex can also opt to co-promote resulting products in certain EU countries.
63365 targets the metabotropic glutamate receptor 5 (mGluR5), which Addex says has shown antipsychotic properties improvement of cognitive dysfunction in preclinical studies.
Enthusiasm for today's deal may be tempered a bit with news that ADX10059 did not reduce acute anticipatory anxiety in a small Phase IIa study in patients with dental anxiety, also announced this morning. Addex has previously reported successful Phase IIa results for 10059 in GERD and migraine, however, and the biotech aims to partner the candidate post-Phase IIb.