Fortress acquires license for nervous system disorders therapy from AstraZeneca

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23 Dec, 2019

Author Muhammad Hammad Asif
Theme Healthcare & Pharmaceuticals

Fortress Biotech Inc. agreed to acquire the exclusive worldwide license of AstraZeneca PLC's experimental nervous system disorders treatment AZD7325.

Under the agreement, Cambridge, U.K.-based AstraZeneca will receive an equity stake in Fortress Biotech's newly formed partner company Baergic Bio Inc.

Additionally, New York-based Fortress Biotech will get clinical data for AZD7325 generated to date. The drug will also be renamed to BAER-101.

Moreover, Fortress Biotech entered into an agreement with Cincinnati Children's Hospital Medical Center to advance clinical development in select central nervous system disorders.