Avenue Therapeutics Acquires Baergic Bio and Strengthens Central Nervous System Focused Portfolio – Avenue Therapeutics (NASDAQ:ATXI)

  • Avenue Therapeutics Inc ATXI acquired Baergic Bio Inc. pursuant to the previously disclosed share contribution agreement with its parent company, Fortress Biotech Inc. FBIO.
  • Founded in December 2019, Baergic Bio focuses on the development of a pharmaceutical product for CNS disorders.
  • Its pipeline currently includes a unique compound, BAER-101, a selective positive allosteric modulator for oral small molecule GABA-A α2/3 receptors, which has been licensed from Astra Zeneca Plc AZN.
  • Preclinical data supported the efficacy of BAER-101 as a novel anxiolytic and antiepileptic.
  • Benzodiazepines interact non-selectively with GABA-A receptor (GABA-AR) subunits, particularly the α1 subunit.
  • By selectively targeting the α2/3 subunits of the GABA-A receptor, BAER-101 may spare the adverse effects associated with benzodiazepine use. Consistent with its selectivity over α1-preferring GABA-ARs, BAER-101 may have a reduced propensity to produce sedation and memory impairment.
  • To date, the clinical experience of over 700 patients has shown BAER-101 to be safe with mild to moderate side effects.
  • Price Action: ATXI shares are up 1.80% at $1.70 when last checked on Tuesday.