Addex Therapeutics is a clinical-stage Swiss biotechnology company that develops small molecule drugs to treat neurological diseases. The company specializes in allosteric modulation, a technique that uses positive or negative modulators to enhance or dampen receptor responses only when natural signaling molecules are present. Addex argues this approach preserves physiological signaling and improves selectivity compared to traditional drugs. The company’s pipeline includes three main programs. Dipraglurant is a lead asset being developed to aid post-stroke and traumatic brain injury recovery by promoting neuroplasticity. Indivior licenses a second program for substance use disorders, managing clinical development while Addex retains rights to future milestone payments and royalties. Addex also maintains an independent program for chronic cough. The company's business model involves partnering with larger pharmaceutical firms to fund research and share development costs. To reduce its cash burn, Addex divested its discovery platform and early-stage assets to Neurosterix in exchange for cash and a minority equity stake. Addex operates as a lean organization and seeks further financing or partnerships to move its unpartnered candidates through clinical trials.