Axsome Therapeutics Acquires Baergic Bio and Global Rights to BAER-101 from Avenue Therapeutics
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Axsome Therapeutics is acquiring Baergic Bio, a subsidiary of Avenue Therapeutics, along with global rights to BAER-101. The agreement includes a $0.3 million upfront payment and potential milestone payments totaling up to $79 million, plus royalties on global sales of AXS-17. Avenue Therapeutics will receive approximately 74% of future payments. Axsome aims to develop AXS-17 for epilepsy treatment, based on preclinical findings.
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