Avenue Therapeutics Announces Acquisition of Subsidiary Baergic Bio by Axsome Therapeutics

Core Viewpoint - Avenue Therapeutics has announced the acquisition of its subsidiary Baergic Bio by Axsome Therapeutics, which includes the global rights to BAER-101, a novel therapy for epilepsy, potentially enhancing treatment options in a field with high unmet needs [1][2][7]. Company Overview - Avenue Therapeutics, Inc. is a specialty pharmaceutical company focused on developing therapies for neurologic diseases, headquartered in Miami, FL, and founded by Fortress Biotech, Inc. [5]. Transaction Details - The acquisition involves Axsome obtaining worldwide commercial, development, and manufacturing rights to BAER-101, with Baergic shareholders eligible for up to approximately $82 million in potential payments, including a $0.3 million upfront payment and milestone payments based on development and sales achievements [1][7]. - Avenue expects to receive approximately 74% of all future payments and royalties under the agreement [7]. Product Information - BAER-101, now referred to as AXS-17 by Axsome, has shown a promising safety and tolerability profile in clinical studies involving over 700 patients and is being evaluated for its anti-convulsant effects in epilepsy [3][2].