Axsome Therapeutics Acquires Baergic Bio from Avenue Therapeutics for up to $82M in Milestones and Royalties

Avenue Therapeutics has announced the acquisition of subsidiary Baergic Bio by Axsome Therapeutics. Baergic shareholders will receive up to $82 million in potential development, regulatory, and sales milestones, plus a mid-to-high single-digit royalty on global net sales from Axsome. The deal includes the rights to BAER-101, a novel oral GABAA α2,3 subtype-selective receptor positive allosteric modulator for the treatment of epilepsy.