Fortress Biotech to Benefit from Crystalys' $205M Funding for Gout Treatment

Urica Therapeutics, a minority stakeholder in Crystalys Therapeutics, is set to benefit from future global sales royalties after Crystalys secured $205 million in Series A funding for its gout treatment, dotinurad. The funding will advance Phase 3 trials for the treatment. Fortress Biotech, the majority owner of Urica, holds a strategic position in the biotechnology sector.

Urica Therapeutics, a minority stakeholder in Crystalys Therapeutics, is poised to benefit from future global sales royalties following Crystalys' securing of $205 million in Series A funding for its gout treatment, dotinurad. The funding will advance Phase 3 trials for the treatment, which has shown promising safety and efficacy in prior studies across several Asian countries Urica Therapeutics' Dotinurad Advances to Phase 3 Trials Following $205 Million Series A Financing by Crystalys Therapeutics^[1].

Crystalys, which acquired dotinurad from Urica Therapeutics in exchange for equity and a 3% royalty on future net sales, raised the funds to support global pivotal trials. The financing round was co-led by Novo Holdings, SR One, and Catalys Pacific, with participation from a broad syndicate of investors Urica Therapeutics' Dotinurad Advances to Phase 3 Trials Following $205 Million Series A Financing by Crystalys Therapeutics^[1].

Urica Therapeutics retains an equity position in Crystalys and is entitled to a 3% royalty on future net sales of dotinurad. This strategic move by Urica is expected to enhance value for its parent company, Fortress Biotech, which holds a majority stake in Urica. The successful Series A financing by Crystalys is a strong endorsement of dotinurad's potential and supports the advancement of its clinical trials Urica Therapeutics' Dotinurad Advances to Phase 3 Trials Following $205 Million Series A Financing by Crystalys Therapeutics^[1].

Fortress Biotech, the majority owner of Urica, has a strategic position in the biotechnology sector. Recently, Fortress achieved key milestones, including the acquisition of its subsidiary Checkpoint Therapeutics by Sun Pharma, which delivered approximately $28 million upfront Urica Therapeutics' Dotinurad Advances to Phase 3 Trials Following $205 Million Series A Financing by Crystalys Therapeutics^[1]. Fortress' model focuses on leveraging its significant biopharmaceutical industry expertise and network to expand and advance its portfolio of product opportunities.

The significant reliance on external funding through a Series A financing round raises concerns about Urica's own financial stability and resource allocation for the development of its other assets. Forward-looking statements indicate multiple risks and uncertainties surrounding regulatory approval and commercialization, which could severely impact Urica's future earnings and stock price Urica Therapeutics' Dotinurad Advances to Phase 3 Trials Following $205 Million Series A Financing by Crystalys Therapeutics^[1].