Fresh Tracks sells off remaining rights to excessive-sweating drug revenue

BOULDER — Fresh Tracks Therapeutics Inc. has amended its 2022 asset purchase agreement with Botanix Pharmaceuticals Ltd. to give Botanix future profits from the sale of its excessive-sweating drug.

Under the previous agreement, Fresh Tracks, previously called Brickell Biotech,received a $9 million upfront payment for rights to its excessive-sweating drug while maintaining the potential for another $168 million in future milestone payments. Now, it’s agreed to give up future paydays for a $8.25 million lump sum now.

Company leaders say the move will boost Fresh Tracks’ cash position as they explore strategic options for a merger or sale.

The…