Fresh Tracks enters amendment to asset purchase agreement with Botanix

Fresh Tracks Therapeutics has entered into an amendment to its Asset Purchase Agreement with Botanix Pharmaceuticals and its subsidiary, Botanix SB to sell its rights to future event-based milestone and earnout payments on net sales of sofpironium bromide to Botanix SB for $8.25M. In May 2022, pursuant to the Asset Purchase Agreement, Botanix acquired from Fresh Tracks all assets primarily related to sofpironium bromide. Under the terms of the APA Amendment, Botanix will pay $8.25M in cash in lieu of all remaining amounts potentially payable by Botanix to the Company, $6.6M of which is payable to the Company and the remaining $1.65M is payable to the Company’s former licensor.