Citi Appointed as Depositary Bank for Addex Therapeutics’ ADR Programme
January 30 2020 - 4:22AM
Business Wire
Citi, acting through Citibank N.A., has been appointed by Addex
Therapeutics Ltd -- a clinical-stage pharmaceutical company -- to
act as depositary bank for its American Depositary Receipt (“ADR”)
programme.
Addex Therapeutics’ American Depositary Shares (“ADS”) trade on
the Nasdaq Global Select Market under the symbol “ADXN”. Each ADS
represents six ordinary shares of the company. Addex Therapeutics’
underlying ordinary shares are listed and trade on SIX Swiss
Exchange under the same symbol “ADXN”.
“Listing on the Nasdaq is an important step in the evolution of
Addex as we approach the start of the first pivotal registration
clinical study for dipraglurant, and I thank the team at Citi for
their contributions to this important milestone,” said Tim Dyer,
CEO of Addex. “Today marks the beginning of a new chapter for Addex
as we continue to execute on our strategy to build a sustainable
pharmaceutical company focused on the promise of allosteric
modulation for neurological disorders.”
Commenting on the appointment, Dirk Jones, Global Head of Issuer
Services, at Citi said: “We look forward to supporting Addex
Therapeutics’ Nasdaq listed ADR programme and further expand the
company’s investor outreach through the expertise of our leading
Investor Relations Advisory team and the breadth of our global
equity distribution network.”
For more information on Citi’s Depositary Receipt Services,
visit www.citi.com/dr.
About Addex Therapeutics Addex Therapeutics is a
clinical-stage pharmaceutical company focused on the development
and commercialization of an emerging class of novel orally
available small molecule drugs known as allosteric modulators for
neurological disorders. Allosteric modulators offer several
potential advantages over conventional non-allosteric molecules and
may offer an improved therapeutic approach to conventional
"orthosteric" small molecule or biological drugs. Addex's
allosteric modulator drug discovery platform targets receptors and
other proteins that are recognized as essential for therapeutic
intervention. Addex's lead drug candidate, dipraglurant (mGlu5
negative allosteric modulator or NAM), is scheduled to enter a
pivotal registration clinical trial for Parkinson's disease
levodopa-induced dyskinesia (PD-LID) in Q1 2020.
About Citi Citi, the leading global bank, has
approximately 200 million customer accounts and does business in
more than 160 countries and jurisdictions. Citi provides consumers,
corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and
credit, corporate and investment banking, securities brokerage,
transaction services, and wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20200130005328/en/
Susan Monahan +44 (0) 20 7508 0786 susan.monahan@citi.com
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