Avenue Thera inks licensing deal with Taiwan's AnnJi
Florida, USA-based Avenue Therapeutics (Nasdaq: ATXI), which was founded by Fortress Biotech (Nasdaq: FBIO), today announced that it has entered into an exclusive license agreement with AnnJi Pharmaceutical, a Taiwanese clinical-stage drug company.
Avenue’s shares jumped more than 9% to $1,22 on the news.
The deal covers AJ201, a first-in-class clinical asset currently in a Phase Ib/IIa study in the USA for the treatment of spinal and bulbar muscular atrophy (SBMA), also known as Kennedy's disease. SBMA currently has no FDA-approved therapy.
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