2010 Most Innovative European Biotech SME
Brussels, 10 December 2010 - Yesterday, at EuropaBio’s event on Innovation in Biotechnology, Addex Pharmaceuticals was revealed as the winner of EuropaBio’s Most Innovative European Biotech SME Award before an audience of EU regulators, CEOs, VCs, stakeholders, industry representatives and journalists.
Addex triumphed as winners over stiff competition from 31 other biotech companies demonstrating cutting edge innovation in biotechnology from across the healthcare, agricultural and industrial sectors.
The Geneva-based company, which was founded in 2002, was selected as the over all winner by a high-level judging panel from a final shortlist of five companies which also included AMSilk, KeyGene, Prosensa and TiGenix.
Addex Pharmaceuticals were honoured for their discoveries and developments in the field of allosteric modulators for human health focused on validated therapeutic targets for diseases of the central nervous system, metabolic disorders and inflammation.
Commenting on the significance of Addex’s work, EuropaBio Chairman, Andrea Rappagliosi said: “Addex showcases the critical role of European SMEs as a booster of knowledge and understanding of the diseases that are still a major unmet medical need in Europe. Addex has pioneered an extremely innovative solution to address important therapeutic areas such as Parkinson’s disease, schizophrenia, Alzheimer’s disease, endometriosis and benign prostatic hyperplasia. I would like to congratulate all five finalists. Choosing a winner was a tough task. ”
The company has demonstrated the potential of the technology by advancing products to Phase II clinical testing and partnering with two major pharmaceutical companies. In addition, Addex recently received a grant from the Michael J. Fox Foundation to support Phase II clinical testing of its lead product for Parkinson’s disease. Based upon its technology, which facilitates drug discovery for challenging therapeutic targets, Addex is developing products that may address some of the most important diseases such as Alzheimer’s, multiple sclerosis, type II diabetes, rheumatoid arthritis, depression and sleep disorders.
Tom Saylor, Chair of EuropaBio’s SME Platform added: “The applicants for this award have demonstrated how innovation is determined not only by technology, but also by developing sustainable business models which maximise the use of available funds and design products and services that bring life-enhancing changes for patients, consumers and the environment as a whole. At EuropaBio we will continue to help work towards removing bottlenecks for biotech SMEs – like expensive patenting, market fragmentation and slow standard setting– to help these vital innovators get their ideas to market responsibly and quickly.”
The winners were congratulated by President Barroso via a video message and the award was presented by Paola Testori Coggi, Director General of DG Health and Consumer Policy. Receiving the award on behalf of Addex together with a prize of €10,000 and two years free membership of EuropaBio, Chris Maggos, Member of the Executive Management of Addex Pharmaceuticals, said “Addex is honoured to receive the recognition of EuropaBio and to beselected from amongst such an outstanding group of SMEs in this field.” Reacting to the news,Addex’s CEO Vincent Mutel added: “We look forward to bringing allosteric modulators topatients as medical therapies, starting with our lead products for Parkinson’s disease andschizophrenia which will enter phase II clinical trial testing in the next few weeks. Our earlystage products include drugs for Alzheimer’s disease, diabetes and arthritis, all potentiallyimportant therapies for our aging population.”
Commenting on the competition as a whole, Dr Paul Rübig, MEP and President of SME Globalwho made up part of the judging panel for the award said “The overall quality and level ofinnovation demonstrated by the applicants was outstanding. There were many entriesdeveloping beneficial products for patients, consumers and the environment and selecting onlyone as a winner was a hard task. I wholeheartedly congratulate Addex on their achievement innot only pioneering innovation in their field but for doing so in a challenging regulatory andeconomic climate for SMEs”.
EuropaBio is the European Association for Bioindustries, bringing together bioscience companies from all fields of research and development, testing, manufacturing and distribution of biotechnology products. It has 66 corporate and 7 associated members, 4 BioRegions and 22 National Biotechnology Associations representing some 1800 small and medium sized enterprises. www.europabio.org