Columbia’s peptide nucleic acid technology draws Fortress into rare discovery deal

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. ...