WHITEHOUSE STATION (dpa-AFX) - Addex Pharmaceuticals Ltd. (ADDXF.PK) announced Friday that it will regain all rights to its metabotropic glutamate receptor 4 or mGluR4 positive allosteric modulator or PAM program from Merck, known as MSD outside the United States and Canada, due to further pipeline prioritization.
As per terms of the agreement, Addex noted that it will regain rights to intellectual property and know-how and can pursue the program independently.
Addex Pharmaceuticals noted that it discovers and develops an emerging class of small molecule drugs, called allosteric modulators, which have the potential to be more specific and confer significant therapeutic advantages over conventional 'orthosteric' small molecule or biological drugs.
The company stated that it uses its proprietary discovery platform to address receptors and other proteins that are recognized as attractive targets for modulation of important diseases withunmet medical needs.
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