Avenue Therapeutics IncATXIacquiredBaergic Bio Inc pursuant to the previously disclosed Share Contribution Agreement with its parent company, Fortress Biotech IncFBIO.
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 PlcAZN.
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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