Avenue Therapeutics Buys Baergic Bio, Beefs Up Central Nervous System-Focused Portfolio

• Avenue Therapeutics Inc (NASDAQ: ATXI) acquired Baergic Bio Inc pursuant to the previously disclosed Share Contribution Agreement with its parent company, Fortress Biotech Inc (NASDAQ: 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 (NASDAQ: 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.

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