Advestra advises Perceptive Advisors on launch of Neurosterix

Addex Thera­peut­ics (SIX and Nas­daq: ADXN), a clin­ic­al-stage bio­phar­ma­ceut­ic­al com­pany pion­eer­ing allos­ter­ic mod­u­la­tion-based drug devel­op­ment, and funds affil­i­ated with Per­cept­ive Advisors, an invest­ment man­age­ment firm focused on the life sci­ences sec­tor, announced the launch of Neur­os­terix, a com­pany focused on devel­op­ing allos­ter­ic mod­u­lat­ors for the treat­ment of under­served neur­o­lo­gic­al disorders.

With ini­tial fund­ing of $63 mil­lion from Per­cept­ive Xon­to­geny Ven­ture Fund II, Per­cept­ive Life Sci­ences Fund and Acorn Bioven­tures, Neur­os­terix will acquire a port­fo­lio of pre­clin­ic­al assets and the allos­ter­ic mod­u­lat­or drug dis­cov­ery tech­no­logy plat­form from Addex and accel­er­ate their devel­op­ment. In return, Addex will receive CHF5 mil­lion and a 20% equity interest in Neurosterix.

Advestra acted as Swiss leg­al coun­sel to Per­cept­ive Advisors and its affil­i­ated funds. The team included Daniel Raun (pictured), Andreas Hin­sen, Thomas Reut­ter, Fabi­an Loretan, Fabi­an Wild, Mar­tina Giac­ometti, Tatiana Bor­di­ug and Jas­min Lang (all cor­por­ate/M&A) as well as Céline Mar­tin and Laurent Ried­weg (both tax).