At Fortress Biotech, our overriding business strategy is to build a pipeline of marketed and development-stage biopharma programs through the acquisition of product candidates in all phases of development, as well as FDA approved products. We have executed agreements in various therapeutic areas, including oncology, pain management, dermatology and rare disease.
We pride ourselves on accelerated evaluation of opportunities and deal consummation. Our flexible deal-structuring practices include conventional licensing, partnerships, joint ventures, option agreements and others. We recognize many entrepreneurs and universities are often interested in forming new companies around their inventions, so we have formed many new companies specifically to advance the development of the drugs to which we acquire rights. We also utilize our strong balance sheet and leverage our relationships on Wall Street to provide initial capital and additional funding for some of our partner companies.
In January 2019, Caelum Biosciences, Inc., a Fortress Biotech partner company, signed an agreement with Alexion Pharmaceuticals, Inc. to advance the development of CAEL-101 for light chain (AL) amyloidosis. The collaboration leverages Alexion’s expertise in rare disease antibody development and commercial franchise in hematology.
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AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialization of prescription medicines used by millions of patients worldwide. In December 2019, we entered into an exclusive worldwide licensing agreement with AstraZeneca for BAER-101 (formerly known as AZD7325), a novel α2/3–subtype-selective GABA A positive allosteric modulator (“PAM”). BAER-101 is currently in development at our partner company, Baergic Bio, Inc., a biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of central nervous system (“CNS”) disorders.
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City of Hope is a world-renowned independent cancer research and treatment center. Our partner company Mustang Bio, Inc. entered into exclusive, worldwide licensing agreements with City of Hope on patents covering five novel CAR T cell therapies in development for multiple forms of cancer: MB-101 (IL-13Rα2 CAR T), MB-102 (CD123 CAR T), MB-103 (HER2 CAR T), MB-104 (CS1 CAR T) and MB-105 (PSCA CAR T). These CAR T cell therapies are currently in clinical development at City of Hope and supported by Mustang Bio, Inc. Another partner company, Helocyte, Inc., entered into exclusive, worldwide licensing agreements with City of Hope for the use of Triplex and ConVax, two novel immunotherapies to prevent and control cytomegalovirus (CMV).
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In September 2017, we entered into an exclusive, worldwide licensing agreement with Fred Hutchinson Cancer Research Center for the use of MB-106, a CAR T therapy related to autologous T cells engineered to express a CD20-specific chimeric antigen receptor (CD20 Technology). MB-106 is currently in development at our partner company, Mustang Bio, Inc.
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In February 2019, we entered into an exclusive worldwide license agreement with Nationwide Children’s Hospital to develop MB-108, an oncolytic virus (C134) for the treatment of glioblastoma multiforme. MB-108 is currently in development at our partner company, Mustang Bio, Inc.
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In November 2016, we entered into an exclusive worldwide license agreement with The University of Texas Health Science Center at Houston (UTHealth) to secure rights to three programs for the treatment of traumatic brain injury (TBI), including two Phase 2 cell therapies (CEVA-101 pediatric and adult), CEVA-102 and a next-generation bioreactor called CEVA-D that enhances the anti-inflammatory potency of bone marrow‐derived cells without genetic manipulation. CEVA-101 is currently in development at our partner company, Cellvation, Inc.
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Cincinnati Children’s is one of the oldest and most distinguished pediatric hospitals in the United States. In December 2019, we entered into an agreement with Cincinnati Children’s to advance clinical development of BAER-101, a novel α2/3–subtype-selective GABA A positive allosteric modulator (“PAM”), in select central nervous system (“CNS”) disorders. BAER-101 is currently in development at our partner company, Baergic Bio, Inc., a biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of CNS disorders.
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