Bay Street News

Fortress Biotech Recaps Corporate Highlights and Achievements in 2018

NEW YORK, Dec. 21, 2018 (GLOBE NEWSWIRE) — Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products, today recapped its corporate highlights and achievements in 2018.

Lindsay A. Rosenwald, M.D., Fortress’ Chairman, President and Chief Executive Officer, said, “We have made significant progress in 2018. We continue to identify, in-license and develop high-potential clinical-stage assets. With over 25 programs in development across six large-market therapeutic areas, we have multiple shots on goal, which allows us to create value while mitigating risk for our shareholders. Our model is driven by a world-class business development team that is focused on leveraging its significant medical, clinical, technical and biopharmaceutical industry expertise to further expand our portfolio of product opportunities. Our robust pipeline is advanced by a streamlined operating structure that fosters efficient drug development. In 2018, we demonstrated success in developing high-quality partnerships, which could provide our shareholders with additional long-term revenue streams. We look forward to a productive 2019.”

Accomplishments since launch of Fortress business model in January 2014:

2018 Fortress and Fortress Company Highlights:

Journey Medical Corporation

Avenue Therapeutics, Inc.

Helocyte, Inc.

Mustang Bio, Inc.

Checkpoint Therapeutics, Inc.

Cyprium Therapeutics, Inc.

Caelum Biosciences, Inc.

Fortress Biotech, Inc.

Aevitas Therapeutics, Inc.

About Fortress Biotech
Fortress is a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress develops and commercializes products both within Fortress and through certain subsidiary companies, also known as Fortress Companies. In addition to its internal development programs, Fortress leverages its biopharmaceutical business expertise and drug development capabilities and provides funding and management services to help the Fortress Companies achieve their goals. Fortress and the Fortress Companies may seek licensing arrangements, 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, as amended. 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 include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; risks relating to the timing of starting and completing clinical trials; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; 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 may be required by law.

Company Contacts:
Jaclyn Jaffe and William Begien
Fortress Biotech, Inc.
(781) 652-4500
ir@fortressbiotech.com

Investor Relations Contact:
Jeremy Feffer
Managing Director, LifeSci Advisors, LLC
(212) 915-2568
jeremy@lifesciadvisors.com

Media Relations Contact:
Tony Plohoros
6 Degrees
(908) 940-0135
tplohoros@6degreespr.com