Dec. 23 Company Quick Takes: Theravance partners with Pfizer; plus Fortress-AZ, Progenics, Tracon-Alphamab Oncology-3D Medicines

Theravance gains $10M upfront in Pfizer deal
Theravance Biopharma Inc. (NASDAQ:TBPH) granted Pfizer Inc. (NYSE: PFE) exclusive, worldwide rights to its skin-targeted, locally-acting pan-JAK inhibitor program for undisclosed skin conditions. Theravance will receive $10 million up front and is eligible for $240 million in milestones, plus royalties.

Fortress’ Baergic partners with AZ for CNS disorders
Fortress Biotech Inc. (NASDAQ:FBIO) formed Baergic Bio Inc. to partner with AstraZeneca plc (LSE:AZN; NYSE:AZN) to develop BAER-101 (AZD7325). AZ, which granted Baergic exclusive, worldwide rights to the positive allosteric modulator of GABRA2 and GABRA3, will hold an undisclosed minority equity stake in the company. Baergic will partner with Cincinnati Children’s Hospital Medical Center to develop the molecule for CNS disorders. Fortress gained $0.17 to $2.47 on Monday...