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Fortress acquires license for nervous system disorders therapy from AstraZeneca

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.