Avenue Therapeutics Inc., a pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) diseases, has bought Baergic Bio Inc.
Founded in December 2019, Baergic Bio is a pharmaceutical company focused on the development of a pharmaceutical product for the treatment of CNS disorders. Its pipeline includes a single compound, BAER-101, an oral small-molecule selective GABA-A α2/3 receptor positive allosteric modulator.
“The acquisition of Baergic Bio is a step forward in our plan to build Avenue into a leader in the development of drugs targeting unmet needs in the CNS field,” comments Alexandra MacLean, chief executive officer of Avenue. “BAER-101 has the potential to address various orphan indications as well as larger markets with a favorable profile relative to current therapeutic options. Combined with our recent capital raise and potential regulatory path forward for IV tramadol, we believe Avenue has the foundational portfolio to continue to deliver and expand meaningful therapies for patients with CNS diseases.”