Biotech startups are risky. They need lot of cash to come across the very regulated clinical path and can fail rapidly when bad results show up. Addex Therapeutics, a Swiss Geneva-based Biotech company, has raised more than €200M throughout its existence and signed deals worth more than €1Bn with Merck and J&J. Yet, on the 31st May 2013, the company almost disappeared! At BIO-Europe, I had a talk with Tim Dyer, the co-founder and CEO of Addex Therapeutics. He told me the entire story and how he is getting the company back on its feet.
«We were a 428M Swiss franc market cap Biotech in 2007 and are now worth 35M Swiss francs. It’s a disaster for our investors. » Dyer told me.
Dyer co-founded Addex Therapeutics in 2002. The firm specialized in small molecules focused on central nervous system (CNS) diseases. The firm raised 106M Swiss franc privately and IPOed in May 2007 on the Swiss stock market to raise 137M Swiss franc. It signed huge deals with Merck and Johnson &