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  • Addex Board Proposes Hoyoung Huh and Oleg Nodelman for Election to the Board of Directors

    March 9, 2011

Geneva, Switzerland, 9 March 2011 – Allosteric modulation company Addex Pharmaceuticals (SIX:ADXN) announced today that the Board of Directors proposes to the Annual General Meeting of 28 April 2011 that Dr. Hoyoung Huh and Mr. Oleg Nodelman be elected to the Board of Directors of Addex Pharmaceuticals Ltd.

Hoyoung Huh, 41, U.S. citizen, is Chairman of the Boards of BiPar Sciences Inc., Geron Corp. (NASDAQ: GERN) and Epizyme Inc. He is a global leader in the biotechnology and healthcare arena, being involved in formation and growth of innovative organizations across the U.S., Europe and Asia. Dr. Huh was BiPar’s President and CEO, where he led the merger of BiPar with the French pharmaceutical firm Sanofi-Aventis (EURONEXT: SAN and NYSE: SNY) in 2009. BiPar is now an independent, wholly owned subsidiary and center of innovation within the Sanofi-Aventis Group. He also serves on the Board of Directors at BayBio, Jennerex Inc., SciDose LLC, and on the Presidential Advisory Council of the Berklee College of Music. He was previously a member of the Board of Directors, Chief Operating Officer, and Head of the PEGylation Business Unit at Nektar Therapeutics (NASDAQ: NKTR). Dr. Huh was formerly a Partner at McKinsey and Company. Dr. Huh holds an M.D. from Cornell University Medical College, a Ph.D. in Genetics/Cell Biology from Cornell University/Sloan-Kettering Institute, and a bachelor’s degree in biochemistry from Dartmouth College.

Oleg Nodelman, 34, U.S. citizen, is a Portfolio Manager at the Biotechnology Value Fund, a biotech focused investment fund founded in San Francisco in 1993. Before joining BVF, Mr. Nodelman was a consultant with Mercer Management Consulting where he worked closely with senior management on financial and strategic matters. Mr. Nodelman holds a Bachelor of Science in International Affairs and a minor in Science in Technology from the School of Foreign Service at Georgetown University. BVF is a 15.15% shareholder of Addex and on 14 March following conversion of outstanding notes will hold 30% of Addex.