Benzinga
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).
