Fortress Biotech's Urica Therapeutics Entered Into An APA Royalty Agreement, Urica Sold The Rights To Its URAT1 Inhibitor Product Candidate In Development For The Treatment Of Gout, Dotinurad, And Related Intellectual Property, Licenses And Agreements To Crystalys Therapeutics In Return For Common Stock Equal To 35% Of Crystalys' Outstanding Equity
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Fortress Biotech's Urica Therapeutics has entered into an APA royalty agreement, selling the rights to its URAT1 inhibitor product candidate, Dotinurad, and related intellectual property to Crystalys Therapeutics in exchange for 35% of Crystalys' outstanding equity.
July 19, 2024 | 12:07 pm
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Fortress Biotech's subsidiary, Urica Therapeutics, has sold the rights to its gout treatment candidate, Dotinurad, to Crystalys Therapeutics in exchange for a 35% equity stake in Crystalys.
The sale of Dotinurad rights to Crystalys Therapeutics provides Fortress Biotech with a significant equity stake in Crystalys, potentially increasing its future revenue streams and diversifying its portfolio.
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