• Tue. Feb 7th, 2023

Avenue Therapeutics Buys Baergic Bio, Beefs Up Central Nervous System-Focused Portfolio – Avenue Therapeutics (NASDAQ:ATXI)

ByVandana Singh

Nov 8, 2022
Avenue Therapeutics Buys Baergic Bio, Beefs Up 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 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.



Image and article originally from www.benzinga.com. Read the original article here.