AVENUE THERAPEUTICS, INC. (ATXI): M&A transaction — Avenue Therapeutics completes acquisition of Baergic Bio and its CNS asset BAER-101

AVENUE THERAPEUTICS, INC.

Acquired majority of Baergic Bio shares from Fortress Biotech; Baergic now a subsidiary of Avenue.
Baergic's lead compound BAER-101 is a selective GABA-A α2/3 PAM in-licensed from AstraZeneca with safety data in over 700 patients.
Closing conditions included $7.5M equity raise and repurchase of InvaGen's shares in Avenue.
CEO Alexandra MacLean said BAER-101 has potential for orphan and larger CNS indications.

item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AVENUE THERAPEUTICS, INC. completed an acquisition involving Fortress Biotech, Inc. (closed 2022-11-08).

Action: acquisition
Counterparty: Fortress Biotech, Inc.
Closing: 2022-11-08

Exact text from the filing

On November 8, 2022, following the satisfaction of the closing conditions of the Contribution Agreement, the Company completed the acquisition of a majority of the outstanding shares (common and preferred) of Baergic from Fortress.

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Source: SEC EDGAR

accession 0001104659-22-115713

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