Core Viewpoint - Addex Therapeutics announced that its spin-out company, Neurosterix, has initiated a Phase 1 clinical study of NTX-253, a positive allosteric modulator for the treatment of schizophrenia, marking a significant milestone for both companies [1][2] Company Overview - Addex Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel small molecule allosteric modulators for neurological disorders [4] - The company retains a 20% equity interest in Neurosterix, which was spun out in April 2024 and raised $65 million in Series A financing [2][4] Product Development - NTX-253 is a selective, orally available positive allosteric modulator of the muscarinic M4 receptor, designed to treat schizophrenia by potentially reducing psychosis symptoms without the side effects associated with traditional dopamine antagonists [1][3] - Preclinical studies have shown that NTX-253 has robust antipsychotic-like activity and a favorable safety profile, supporting its advancement into first-in-human clinical studies [3] Market Position - The M4 muscarinic receptor is a validated target for treating schizophrenia, offering a novel therapeutic approach compared to traditional antipsychotics that primarily target dopamine receptors [3] - Current antipsychotics can induce metabolic, cognitive, and motor side effects, which M4 PAMs aim to avoid while still providing therapeutic benefits [3]