Axsone Therapeutics to acquire Baergic Bio from Avenue Therapeutics for $82m.

Axsone Therapeutics, a specialty pharmaceutical company that develops treatments for CNS conditions, agreed to acquire Baergic Bio, a biopharmaceutical company that develops and commercialises novel therapeutics for the treatment of CNS disorders, from Avenue Therapeutics, a pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases, for $82m. “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,” Alexandra MacLean, Avenue CEO.