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Avenue Therapeutics Announces Acquisition of Subsidiary Baergic Bio by Axsome Therapeutics
Baergic shareholders eligible to receive up to approximately $82 million in potential development, regulatory, and sales milestones plus a tiered mid-to-high single digit royalty on global net sales from AxsomeMIAMI, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Avenue Therapeutics, Inc. (OTC: ATXI) (“Avenue” or the “Company”), a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases, and its majority-owned subsidiary, Baergic
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[{"type":"image","alt":"Avenue Therapeutics","displaySize":"","headline":null,"caption":"Avenue Therapeutics","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":175,"url":"https://media.zenfs.com/en/globenewswire.com/c8e2c7065a1eb2ec2c484cc82a1060d1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/lATQjlrvilykMsEx4smNkg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI0NTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/c8e2c7065a1eb2ec2c484cc82a1060d1","width":300,"height":175}},"lazy":false},{"type":"text","content":"Baergic shareholders eligible to receive up to approximately $82 million in potential development, regulatory, and sales milestones plus a tiered mid-to-high single digit royalty on global net sales from Axsome","length":210,"tagName":"p"},{"type":"text","content":"MIAMI, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Avenue Therapeutics, Inc. (OTC: ATXI) (“Avenue” or the “Company”), a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases, and its majority-owned subsidiary, Baergic Bio, Inc. (“Baergic”), today announced that Avenue has entered into an agreement for Baergic to be acquired by Axsome Therapeutics, Inc. (NASDAQ: AXSM) (“Axsome”), including the global rights to BAER-101 (also known as AZD7325), a novel oral GABAA α2,3 subtype-selective receptor positive allosteric modulator (PAM). BAER-101 was originally licensed by Baergic from AstraZeneca AB (“AstraZeneca”) and will be referred to as AXS-17 by Axsome going forward. Axsome intends to evaluate AXS-17 as a potential treatment for epilepsy.","length":818,"tagName":"p"},{"type":"text","content":"“This acquisition by Axsome will enable the efficient progression of this potentially best-in-class targeted therapy for epilepsy. By leveraging Axsome’s expertise, we hope that the development of the therapy can be accelerated for the benefit of patients suffering from epilepsy. We believe the potential potency, tolerability and efficacy of BAER-101 is exciting, as it creates an opportunity to improve the treatment of seizures in a field where there remains high unmet need for novel therapies. This partnership further validates our model of sourcing and developing high-impact therapies that address large unmet needs, while creating meaningful opportunities for long-term shareholder value,” ...