Columbia’s peptide nucleic acid technology draws Fortress into rare discovery deal
Fortress makes exception as Columbia program solves problem facing peptide nucleic acid techs
Fortress Biotech broke from its mold of licensing clinical assets to access a Columbia University peptide nucleic acid technology in discovery. The new technology will be housed in Fortress’ newly formed Oncogenuity Inc. subsidiary.
The business model for Fortress Biotech Inc. (NASDAQ:FBIO) is based on developing product candidates acquired through a mix of deal structures, often forming new subsidiaries around the assets. While the company technically plays in all phases of development, it rarely ventures into technologies in discovery.
“We’ve probably done at least 35 licenses since I took over Fortress five and a half years ago,