Journey Medical Corporation Launches Targadox™ Oral Immediate-Release Tablet for Treatment of Severe Acne

Targadox™ Is Journey’s Fourth Launched Product in the Past 12 Months

Availability in Major U.S. Retail and Specialty Pharmacy Chains

SCOTTSDALE, Ariz., Oct. 17, 2016 (GLOBE NEWSWIRE) -- Journey Medical Corporation, a Fortress Biotech, Inc. (NASDAQ:FBIO) company, launched Targadox™ (doxycycline hyclate USP) 50 mg film coated tablets indicated as adjunctive therapy for the treatment of severe acne. Targadox™ is the only 50 mg immediate-release doxycycline hyclate tablet currently available on the market. Targadox™ is available by prescription at major U.S. retail and specialty pharmacy chains. According to Symphony Health, doxycycline is the most-prescribed oral antibiotic in Dermatology with more than 3.7 million prescriptions written in 2015.

Acne is one of the most commonly treated disease states in dermatology. Doxycycline has both anti-inflammatory and antibacterial properties, two important characteristics for a medication in the treatment of acne. According to the American Academy of Dermatology 2016 “Guidelines of care for the management of acne vulgaris,” systemic antibiotics are recommended in the management of moderate and severe acne and forms of inflammatory acne that are resistant to topical treatments. Oral antibiotics should be used in combination with a topical retinoid and benzoyl peroxide.

Claude Maraoui, President and CEO of Journey Medical Corporation, said, “Launching four products in one year is a significant achievement for any size company. As a growing startup company, we credit the significant experience of our team and strategic allocation of resources for the achievement of this milestone.  By targeting one of the most commonly treated diseases in dermatology, we expect Targadox™ will become our flagship brand in the near-term, as we continue to develop and commercialize dermatologic therapies for the future.”

Dr. Lindsay Rosenwald, Chairman and CEO of Fortress Biotech, said, “Journey Medical’s success in launching its fourth product this year is a testament to the leadership team’s expertise and dedication. As Fortress Biotech continues to implement its strategy of acquiring, developing and commercializing novel pharmaceutical and biotechnology products, Journey Medical exemplifies what we believe is a winning business model.”

About Journey Medical Corporation

Journey Medical Corporation (JMC), headquartered in Scottsdale, Arizona, is focused on developing, acquiring, licensing and commercializing branded dermatology products. It is a subsidiary of Fortress Biotech, Inc.  For more information about Journey, visit www.jmcderm.com.

About Fortress Biotech

Fortress Biotech, Inc. (“Fortress”) is a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress plans to develop and commercialize products both within Fortress and through subsidiary companies, also known as Fortress Companies.  Fortress intends to leverage its biopharmaceutical business expertise and drug development capabilities to help the Fortress Companies achieve their goals. Additionally, Fortress intends to provide funding and management services to each of the Fortress Companies and, from time to time, Fortress and the Fortress Companies will seek licensing, acquisitions, partnerships, joint ventures and/or public and private financings to accelerate and provide additional funding to support their research and development programs. For more information, visit www.fortressbiotech.com.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks related to our ability to innovate, develop and continue to commercialize pharmaceutical and biotechnology products; our ability to attract, integrate, and retain key personnel; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

Contacts:

Journey Medical Corporation
Claude Maraoui, President & CEO
480-434-6670; contact@jmcderm.com

Fortress Biotech, Inc.
Lucy Lu, MD, Executive Vice President & Chief Financial Officer
781-652-4500; ir@fortressbiotech.com

Released October 17, 2016