Avenue Therapeutics Buys Baergic Bio, Beefs Up Central Nervous System-Focused Portfolio

  • 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 developing a pharmaceutical product for CNS disorders. 
  • Its pipeline currently includes a single compound, BAER-101, an oral small molecule selective GABA-A α2/3 receptor positive allosteric modulator, which was in-licensed from AstraZeneca Plc AZN.
  • Preclinical data have substantiated the efficacy of BAER-101 as a novel anxiolytic and antiepileptic.
  • Benzodiazepines interact non-selectively with GABA-A receptor (GABA-AR) subunits, especially 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, clinical experience in over 700 patients has shown that BAER-101 is safe and side effects were mild to moderate.
  • Price Action: ATXI shares are up 1.80% at $1.70 on the last check Tuesday.
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