Press Release: Addex Convenes Extraordinary General Meeting

Ad Hoc Announcement Pursuant to Art. 53 LR

Geneva, Switzerland, November 28, 2023 - https://www.globenewswire.com/Tracker?data=RtWnxMZ7TfE1V0LrI4YcQv_o0_Rgcx6I6gvlLOrr3L2qV7XD1JwHHO_C6gy3AQxr4-KID2eGhJ8mqUN-wlRsLbxgx0nqUDTLbOVDfi4YF2zT4CSj2svNzvonvCDBnMfb Addex Therapeutics (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, announced today that an Extraordinary General Meeting is convened and will take place on Tuesday December 19, 2023, at 11:00 am CET at the Campus Biotech, Chemin des Mines 9, 1202 Geneva (doors open at 10:30 am).

The items in the agenda will be the following:

1. Increase of the capital band (article 3b of the Articles of Association).

2. Increase of the conditional capital (articles 3cA and 3cB of the Articles

of Association).

3. Miscellaneous

The full invitation to the Extraordinary General Meeting may be found in the General Meetings section of the Company's website https://www.globenewswire.com/Tracker?data=lG7_mg6aeNp1UuPmD3GVTrMlKYsFUztDSHQzRkkLhj3khTdTNew38NHehCzCeTEbbA12jNtDYn0ET2YLYgF9Vztkvsi4o4B-Xz7K8EJ83A2tNBrUN-wJ-8y0AaPgX7VM here.

About Addex Therapeutics:

Addex Therapeutics https://www.globenewswire.com/Tracker?data=RtWnxMZ7TfE1V0LrI4YcQv_o0_Rgcx6I6gvlLOrr3L0dTXoiuDCbdkVGRMGNk2GQhf6kOaE3l6o2SQfwAlQV3zhSoWL6PV50_TvwWbWtyFQ-tf5GHAf9vHJvBsorMWLl 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, ADX71149 (mGlu2 positive allosteric modulator or PAM) is in a Phase 2 clinical trial for the treatment of epilepsy. The company's second clinical program, dipraglurant (mGlu5 negative allosteric modulator or NAM), is under evaluation for future development in post-stroke recovery. Indivior PLC has licensed Addex's GABAB PAM program for the development of drug candidates, with a focus on substance use disorder. Addex is also advancing a broad preclinical pipeline, which includes development of a range of GABAB PAM for chronic cough, mGlu7 NAM for stress related disorders, M4 PAM for schizophrenia and other forms of psychosis and mGlu2 NAM for mild neurocognitive disorders and depression. Addex shares are listed on the SIX Swiss Exchange and American Depositary Shares representing its shares are listed on the NASDAQ Capital Market, and trade under the ticker symbol "ADXN" on each exchange.

Contacts:

Tim Dyer Mike Sinclair

Chief Executive Officer Partner, Halsin Partners

Telephone: +41 22 884 15 55 +44 (0)20 7318 2955

PR@addextherapeutics.com msinclair@halsin.com

Addex Forward Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements about the intended use of proceeds of the offering. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release, are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Addex Therapeutics' Annual Report on Form 20-F for the year ended December 31, 2022, as filed with the SEC on March 30, 2023, the final prospectus supplement and accompanying prospectus and other filings that Addex Therapeutics may make with the SEC in the future. Any forward-looking statements contained in this press release represent Addex Therapeutics' views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Addex Therapeutics explicitly disclaims any obligation to update any forward-looking statements.

(END) Dow Jones Newswires

November 28, 2023 01:00 ET (06:00 GMT)