Axsome Therapeutics reported on November 5 that it acquired Baergic Bio, Inc. from Avenue Therapeutics for $0.3 million.
Founded in December 2019, Baergic Bio is a clinical-stage pharmaceutical company that focuses on the development of a pharmaceutical product for the treatment of CNS disorders.
Axsome Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system disorders. According to its financial reports, the company reported $385.7 million in revenue for the full year 2024.
Avenue Therapeutics, a specialty pharmaceutical company, initially purchased Baergic Bio in 2022.
The transaction also includes the acquisition of the global rights to BAER-101, a novel oral GABAA α2,3 subtype-selective receptor positive allosteric modulator.
Under the terms of the purchase agreement, Baergic Bio shareholders will receive a $0.3 million upfront payment and are eligible to receive milestone payments of up to $2.5 million upon the occurrence of certain development and regulatory events for the first indication and $1.5 million for each indication thereafter, up to $79 million in potential sales-based milestones, and a tiered mid-to-high single-digit royalty on potential global net sales of AXS-17.
According to data in the LevinPro HC database, this transaction represents the 42nd Pharmaceuticals acquisition of the year. There were 66 Pharmaceuticals deals in 2024.
