Avenue Therapeutics is a New York-based, specialty pharmaceutical company founded in 2015. We are a subsidiary company of Fortress Biotech, Inc., a biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products.
Avenue is focused on the development and commercialization of an intravenous, or IV, formulation of tramadol HCl, or IV Tramadol, for the management of moderate to moderately severe postoperative pain. Tramadol is a synthetic dual-acting opioid with a well-established efficacy and safety profile, and has been used throughout the world for more than 30 years, accumulating an abundance of available clinical data. Oral tramadol is currently approved and marketed in the United States for moderate to moderately severe pain in adults, and physicians are already familiar with the oral dosage of the drug. Parenteral tramadol is approved and used throughout much of the world, but there is no parenteral formulation currently available in the United States. We anticipate that the introduction of an intravenous formulation in the United States will address the current market need for an intravenous dosage of tramadol in the postoperative setting.
We also plan to seek additional products and to develop them in the acute/intensive care hospital market.