Fortress Biotech and Subsidiary Urica Therapeutics Announce Crystalys Therapeutics’ $130 Million Series B Financing

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Proceeds to support ongoing late-stage global clinical development and commercialization preparation of dotinurad, a next-generation, once daily, oral URAT1 inhibitor with the potential to deliver best-in-class safety and efficacy for the treatment of gout MIAMI, July 27, 2026 (GLOBE NEWSWIRE) -- Urica Therapeutics, Inc. ("Urica" or the "Company"), a Fortress Biotech, Inc. (Nasdaq: FBIO) ("Fortress") subsidiary, today announced that Crystalys Therapeutics, Inc. ("Crystalys"), in which Urica maintains an equity position, closed an oversubscribed $130 million Series B financing to support the late-stage global clinical development and commercialization preparation for dotinurad, a next-generation, once daily, oral URAT1 inhibitor for the treatment of gout. Dotinurad's clinical development program includes two ongoing Phase 3 registration-directed trials, RUBY and TOPAZ, as well as the ongoing Phase 2 AMETHYST study, collectively designed to evaluate dotinurad across a broad spectrum of patients with gout, including those with limited treatment options. The proceeds from the financing are expected to support ongoing clinical development of dotinurad, commercialization preparation activities and provide operational runway through multiple anticipated clinical and regulatory milestones. Lindsay A. Rosenwald, M.D., Fortress' Executive Chairman, President and Chief Executive Officer, said, "This financing supports the advancement of global pivotal trials and paves the way toward regulatory approval and commercialization for dotinurad in the United States and Europe, potentially bringing a new treatment option to the millions of people living with gout. In addition to its clinical promise, this transaction strengthens the position of Fortress and our subsidiary Urica, through Urica's equity stake in Crystalys and royalties tied to dotinurad's future commercialization." Crystalys acquired dotinurad from Urica in 2024, and Urica currently holds a minority equity position in Crystalys and is eligible to receive a 3% royalty on future net sales of dotinurad. Urica is a majority-owned and controlled subsidiary of Fortress. For more information on Crystalys, the Series B financing, and the ongoing clinical trials, please refer to Crystalys' press release. About Fortress BiotechFortress Biotech, Inc. ("Fortress") is an innovative biopharmaceutical company focused on acq...

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