Addex neurology news
Addex plans to restructure and reduce headcount by about 25% to reduce costs. The company expects the changes to produce annual savings of CHF8 million ($9.4 million) and extend the company's cash through the end of 2013. Addex will disclose details on the restructuring after a consultation period required by Swiss law, which the company said is typically 10 business days. At Dec. 31, 2010, the company had CHF68.3 million ($68 million) in cash and a 12-month operating loss of CHF33.6 million ($35.9 million).
Addex also said it plans to pursue new strategic partnerships with industry leaders on metabotropic glutamate receptors, glucagon-like peptide-1 receptor ( GLP-1R; GLP1R), TNF receptor superfamily, interleukin receptor family and receptor tyrosine kinase superfamily. ...