Avenue Therapeutics completes acquisition of Baergic Bio, Inc and with it BAER 101.
Avenue Therapeutics, Inc., a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of central nervous system diseases, announced the closing of the acquisition of Baergic Bio, Inc. pursuant to the previously disclosed Share Contribution Agreement with its parent company, Fortress Biotech, Inc. Founded in December 2019, Baergic Bio, now a subsidiary of Avenue, is a clinical-stage pharmaceutical company that focuses on the development of a pharmaceutical product for the treatment of CNS disorders.
Its pipeline currently includes a single compound, BAER-101, an oral small molecule selective GABA-A alpha2/3 receptor positive allosteric modulator, which was in-licensed from AstraZeneca Plc.
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