Programs

A Diversified Pipeline Spanning Several Large Markets

At Fortress Biotech, our diversified product pipeline includes over 20 candidates in various phases of pre-clinical and clinical development. These product candidates are developed in collaboration with our partner companies and span several large-market therapeutic areas, including oncology, rare diseases, gene therapy and more. In addition, Fortress has several marketed dermatology products.

Our Current Programs1

Commercial

Candidate Indication Partnership; Royalty2 Preclinical Phase 1 Phase 2 Phase 3 NDA/BLA Filed Marketed

UNLOXCYT™ (cosibelimab-ipdl)

Recurrent or Metastatic Cancers

Acquired by Sun Pharma | 2.5% royalty to Fortress

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

Rosacea

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

Acne

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

Fungal Infections

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

Wounds

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

Recalcitrant Nodular Acne

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

37% Journey Medical Corporation

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress
  • 1. Portfolio includes select product candidates in development at Fortress, at Fortress’ private subsidiaries (referred to herein as “subsidiaries”), at Fortress’ public subsidiaries (referred to herein as “partner companies”) and at entities with whom one of the foregoing parties has a significant business relationship, such as an exclusive license or an ongoing product-related payment obligation (such entities referred to herein as “partners”).
  • 2. Column reflects approximate percentage ownership in Fortress partner company and corresponding direct product sales royalties owed to Fortress estimated as of September 30, 2025 or date of most recent public ownership filings for partner companies.

IMPORTANT SAFETY INFORMATION FOR ACCUTANE® (ISOTRETINOIN)

CONTRAINDICATIONS AND WARNINGS

Accutane® must not be used by patients who are or may become pregnant. There is an extremely high risk that severe birth defects will result if pregnancy occurs while taking Accutane in any amount, even for short periods of time. Potentially any fetus exposed during pregnancy can be affected. There are no accurate means of determining whether an exposed fetus has been affected.

Late Stage Product Candidates

Candidate Indication Partnership; Royalty2 Preclinical Phase 1 Phase 2 Phase 3 NDA/BLA Filed Marketed

ZYCUBO® (CUTX-101)

Menkes Disease

74% of Cyprium; 3% - 12.5% royalty payable to Cyprium from partner Sentynl3 | 2.5% Annual Equity Dividend

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase complete
Marketed Phase in progress

Dotinurad 4

Gout and Chronic Kidney Disease

70% of Urica; 3% Royalty to Urica | 2.5% Equity Dividend

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase in progress
NDA/BLA Filed Phase not started
Marketed Phase not started

CAEL-101 5

AL Amyloidosis

42% of future proceeds to Caelum from AstraZeneca

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase in progress
NDA/BLA Filed Phase not started
Marketed Phase not started

Triplex

Cytomegalovirus (CMV), Cancer and Human Immunodeficiency Virus (HIV)

83% Helocyte; 4.5% Royalty | 2.5% Equity Dividend

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase in progress
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

IV Tramadol

Post-Operative Acute Pain Management

Many patients who undergo surgical procedures experience severe postoperative pain. IV Tramadol is being developed as a potential treatment for pain management following surgery, including abdominoplasty and bunionectomy.

Abdominoplasty, or more commonly referred to as a “tummy tuck,” is a cosmetic surgical procedure in which excess skin and fat is removed from the abdomen, resulting in a smoother and firmer abdomen. A bunionectomy is a surgical procedure to remove a bunion from a patient’s foot. Depending on the complexity of these surgeries, some patients will experience severe postoperative pain.

10% Avenue; 4.5% Royalty | 2.5% Equity Dividend

Preclinical Phase complete
Phase 1 Phase complete
Phase 2 Phase complete
Phase 3 Phase complete
NDA/BLA Filed Phase in progress
Marketed Phase not started
  • 1. Portfolio includes select product candidates in development at Fortress, at Fortress’ private subsidiaries (referred to herein as “subsidiaries”), at Fortress’ public subsidiaries (referred to herein as “partner companies”) and at entities with whom one of the foregoing parties has a significant business relationship, such as an exclusive license or an ongoing product-related payment obligation (such entities referred to herein as “partners”).
  • 2. Column reflects approximate percentage ownership in Fortress partner company and corresponding direct product sales royalties owed to Fortress estimated as of September 30, 2025 or date of most recent public ownership filings for partner companies.
  • 3. Product in development at partner Sentynl Therapeutics, Inc. (Sentynl). Cyprium Therapeutics, Inc. (Cyprium) completed asset transfer of ZYCUBO® (CUTX-101) to Sentynl in Dec. 2023. A Rare Pediatric Disease Priority Review Voucher (PRV) was issued in connection with FDA approval and, pursuant to the transaction with Sentynl, was transferred to Cyprium.
  • 4. In 2024, Urica Therapeutics sold dotinurad (URAT1 inhibitor) to Crystalys Therapeutics for equity in Crystalys and a 3% royalty on future net sales of dotinurad.
  • 5. AstraZeneca’s Alexion acquired Caelum Biosciences on 10/5/2021 for up to $500 million, including $150 million upfront and up to $350 million in future contingent milestone payments. FBIO received ~$56.9 million of such upfront amount and is eligible to receive ~42% of the proceeds from all future milestone payments.

Early Stage Product Candidates

Candidate Indication Partnership; Royalty2 Preclinical Phase 1 Phase 2 Phase 3 NDA/BLA Filed Marketed

MB-101

Recurrent Glioblastoma (GBM)

4% Mustang; 4.5% Royalty | 2.5% Equity Dividend

Preclinical Phase complete
Phase 1 Phase in progress
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

MB-108

Recurrent Glioblastoma (GBM)

4% Mustang; 4.5% Royalty | 2.5% Equity Dividend

Preclinical Phase complete
Phase 1 Phase in progress
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started
  • 1. Portfolio includes select product candidates in development at Fortress, at Fortress’ private subsidiaries (referred to herein as “subsidiaries”), at Fortress’ public subsidiaries (referred to herein as “partner companies”) and at entities with whom one of the foregoing parties has a significant business relationship, such as an exclusive license or an ongoing product-related payment obligation (such entities referred to herein as “partners”).
  • 2. Column reflects approximate percentage ownership in Fortress partner company and corresponding direct product sales royalties owed to Fortress estimated as of September 30, 2025 or date of most recent public ownership filings for partner companies.

Preclinical

Candidate Indication Partnership; Royalty2 Preclinical Phase 1 Phase 2 Phase 3 NDA/BLA Filed Marketed

MB-109

Recurrent GBM and Anaplastic Astrocytoma

4% Mustang 4.5% Royalty 2.5% Equity Dividend

Preclinical Phase in progress
Phase 1 Phase not started
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

FB-606

Duchenne Muscular Dystrophy

Internally Sourced Program Preclinical

Preclinical Phase in progress
Phase 1 Phase not started
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

AAV.sFH

Complement-Mediated Diseases

Asset sold to 4DMT in April 2023 ~$140M in potential future milestone proceeds plus royalties4

Preclinical Phase in progress
Phase 1 Phase not started
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

AAV-ATP7A Gene Therapy

Menkes Disease

74% of Cyprium; 2.5% Annual Equity Dividend

Preclinical Phase in progress
Phase 1 Phase not started
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

CEVA-102

Traumatic Brain Injury (TBI)

80% of Cellvation; 4.5% Royalty | 2.5% Equity Dividend

Preclinical Phase in progress
Phase 1 Phase not started
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started

CEVA-D

Traumatic Brain Injury (TBI)

80% Cellvation; 4.5% Royalty | 2.5% Equity Dividend

Preclinical Phase in progress
Phase 1 Phase not started
Phase 2 Phase not started
Phase 3 Phase not started
NDA/BLA Filed Phase not started
Marketed Phase not started
  • 1. Portfolio includes select product candidates in development at Fortress, at Fortress’ private subsidiaries (referred to herein as “subsidiaries”), at Fortress’ public subsidiaries (referred to herein as “partner companies”) and at entities with whom one of the foregoing parties has a significant business relationship, such as an exclusive license or an ongoing product-related payment obligation (such entities referred to herein as “partners”).
  • 2. Column reflects approximate percentage ownership in Fortress partner company and corresponding direct product sales royalties owed to Fortress estimated as of September 30, 2025 or date of most recent public ownership filings for partner companies.
  • 4. 4D Molecular Therapeutics acquired Aevitas’ short-form human factor H asset in April 2023 for up to ~$140 million in potential milestones and additional royalties on net sales.

Scientific Publications

We have a library of valuable content and resources that provide in-depth knowledge on our product candidates and various therapeutic areas of interest.

View Publications