News

(RTTNews) - Fortress Biotech, Inc. (FBIO) and its majority-owned subsidiary, Cyprium Therapeutics, Inc., on Monday announced the closing of the sale of Cyprium's Rare Pediatric Disease Priority Review Voucher or PRV for gross proceeds of $205 million.

Cyprium is focused on developing therapies for the treatment of Menkes disease and related copper metabolism disorders.

In December 2023, Sentynl Therapeutics, Inc. assumed full responsibility for the development and commercialisation of ZYCUBO (copper histidinate, formerly known as CUTX-101) from Cyprium.

The PRV was issued by the U.S. Food and Drug Administration (FDA) on January 12, 2026, upon ZYCUBO's approval for the treatment of Menkes disease in pediatric patients, and following the transaction to Sentynl, it was immediately transferred to Cyprium.

In addition, Cyprium remains eligible to receive tiered royalties on net sales of ZYCUBO and up to approximately $128 million in aggregate sales milestones from Sentynl.

Earlier in March 2017, Cyprium entered into a cooperative research and development agreement with the Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) to advance the clinical development of CUTX-101 for the treatment of Menkes disease.

Now, Cyprium is obligated to pay 20% of the proceeds from the PRV sale to NICHD. Further, Cyprium and NICHD also have an ongoing worldwide, exclusive license agreement to develop and commercialise AAV-ATP7A, an adeno-associated virus (AAV)-based gene therapy which is currently in pre-clinical development.

"As the majority shareholder of Cyprium, Fortress expects to receive over $100 million in proceeds from the transaction, which will enhance our financial flexibility to invest in business development and the continued advancement of our robust portfolio," said Lindsay A. Rosenwald, M.D., Fortress' Chairman, President and Chief Executive Officer and Cyprium's Chairman.

FBIO has traded between $1.33 and $4.53 in the last year. The stock closed Monday's trade at $2.70, down 2.17%.

For More Such Biotech and Pharmaceutical News, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.