Fortress Biotech (FBIO) and its majority-owned subsidiary, Cyprium Therapeutics, announced that the U.S. Food and Drug Administration has approved ZYCUBO for the treatment of Menkes disease in pediatric patients. In December 2023, Sentynl Therapeutics assumed full responsibility for the development and commercialization of CUTX-101 from Cyprium. A Rare Pediatric Disease Priority Review Voucher was issued in connection with FDA approval and, pursuant to the transaction with Sentynl, will be transferred to Cyprium. Cyprium is also eligible to receive tiered royalties on net sales of ZYCUBO and up to $129M in aggregate development and sales milestones from Sentynl.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FBIO:
- Largest borrow rate increases among liquid names
- Fortress Biotech files to sell 600,000 shares of common stock for holders
- Fortress Biotech Amends Credit Agreement with Oaktree
- Optimistic Buy Rating for Fortress Biotech Driven by Promising CUTX-101 Prospects and FDA Engagement
- Fortress Biotech’s CUTX-101 NDA Resubmission Accepted by FDA