Case Study

Biotech Survival In A Bleak Economy: The Story Of Addex Pharmaceuticals

Source: Life Science Leader

By Wendy Meyeroff, Life Science Leader magazine

Considering how hard it is for people, let alone companies, to say “Hmmm. We may have made a mistake. Let’s try something else,” it’s refreshing to hear how a company not only did that, but is succeeding at it.

That’s the story behind Addex Pharmaceuticals, a biopharma firm based in Geneva, Switzerland. “We started out seeking ways to fight addiction [hence the company name],” says Vincent Mutel, Addex’s CEO, “but we realized that addiction is such a complex disease that to try and treat it strictly through pharmacological methods, although an appealing idea, was an oversimplification.”

So in 2003 (the company was founded in 2002), Addex reviewed its goals. That actually meant changing foci a few times, starting with moving away from addiction and exploring other options.