GRI Bio sells ADAIR asset to Aardvark for $250k upfront, up to $80M milestones

GRI Bio, Inc.

Sold ADAIR abuse-deterrent amphetamine formulation to Aardvark Therapeutics for $250k upfront plus potential milestones.
ADAIR failed to meet FDA approval threshold in most recent clinical trial for ADHD/narcolepsy.
Aardvark plans to combine ADAIR with its ARD-101 technology to boost deterrent effect.
GRI Bio retains rights in Europe/UK via existing Medice license; proceeds allow focus on NKT cell modulators.
Up to ~$80 million in total development and commercial milestones if Aardvark achieves targets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

GRI Bio, Inc. entered into Asset Purchase Agreement with Aardvark Therapeutics, Inc. valued at $250,000 upfront cash payment plus potential milestone payments (effective 2023-08-22).

Action: entry
Agreement: asset purchase
Counterparty: Aardvark Therapeutics, Inc.
Value: $250,000 upfront cash payment plus potential milestone payments
Effective: 2023-08-22

Exact text from the filing

On August 22, 2023, GRI Bio, Inc. (the “Company”) entered into an Asset Purchase Agreement (the “Agreement”) with Aardvark Therapeutics, Inc. (the “Buyer”), pursuant to which the Buyer agreed to purchase (i) the Company’s license agreement with Medice Arzneimittel Pűtter GmbH & Co. KG, dated January 6, 2020, (ii) certain patents related to the Company’s ADAIR product candidate, and (iii) files (of contract manufacturing and FDA correspondence) for a formulation described in IND No. 133072, ADAIR for the Treatment of ADHD and Narcolepsy, filed with the United States FDA.

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GRI Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001824293-23-000159

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