Addex suffers after partner drops lead candidate
Opioid dependence specialist Indivior (LSE: INDV) and Switzerland’s Addex Therapeutics (SIX: ADXN) have announced they will no longer work together on development of ADX71441.
The firms will instead switch focus to different compounds for the treatment of addiction. The announcement sent shares in Addex down more than a tenth on Wednesday.
Under the terms of a deal agreed in January 2018, Indivior, which is best known as the maker of heroin substitute Suboxone (buprenorphine/naloxone), agreed to pay up to $330 million in development, regulatory and commercialization milestones, plus tiered royalties. Addex received $5 million upfront.
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