Partex and Fortress Biotech Announce Strategic Collaboration to Accelerate Asset Identification and Evaluation Using Proprietary AI Platform
FRANKFURT, Germany and MIAMI, March 17, 2025 (GLOBE NEWSWIRE) -- Partex NV and Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company, today announced a strategic collaboration aimed at identifying and evaluating biopharmaceutical compounds using artificial intelligence (AI) for potential acquisition or licensing by Fortress.
Partex will deploy its proprietary AI-based drug discovery and development technology platform, which delivers diverse recommendations on alternative targets or indications and helps search and evaluate compounds across therapeutic areas.
"This strategic collaboration leverages the synergistic strengths of both organizations," said Dr. Frank Grams, Chief Commercial Officer, Partex. "Fortress' expertise in identifying promising biopharmaceutical assets and advancing them through clinical development to their full potential, coupled with Partex's advanced AI-driven platform, will enable a highly efficient and data-rich approach to identifying, evaluating, and potentially repositioning promising bio-pharmaceutical assets."
Partex's platform will provide comprehensive analyses, including target identification, indication expansion, and molecular profiling, ultimately accelerating the process of bringing innovative therapeutics faster to market.
Lindsay A. Rosenwald, M.D., Fortress' Chairman, President and Chief Executive Officer, also added, "In addition to the advancement of our robust late-stage pipeline of compelling product candidates at Fortress along with our partner companies and subsidiaries, plus the launch of two recently approved medicines and a third with a Prescription Drug User Fee Act (PDUFA) action date in the third quarter of this year, we are also focused on business development opportunities and expanding our portfolio. This collaboration with Partex will allow us to expeditiously identify and evaluate assets using their AI platform in conjunction with our already-established large network of Key Opinion Leaders in various therapeutic areas. The Fortress business model is focused on acquiring and advancing assets to enhance long-term value for shareholders through product revenue, equity holdings and dividend and royalty revenue. We believe utilizing AI technology will allow us to scale more efficiently and cost effectively going forward."
The collaboration is expected to expedite and support the process of search and evaluation to in-license differentiated assets, with both companies committed to utilize AI to its fullest potential.
About Partex
Partex is a pioneering AI-driven biopharmaceutical company dedicated to revolutionizing drug discovery and development. By harnessing cutting-edge AI technologies, Partex aims to accelerate the identification, development, and commercialization of breakthrough therapies.The company's proprietary platform uses advanced techniques to identify new drug candidates, predict therapeutic applications, and accelerate the in & out-licensing process, helping to bring novel therapies to market faster. Partex aims to be the largest AI-powered Drug Assets Manager solving inefficiencies in the Life sciences Industry.
For more information, visit: https://www.partex.io/ and https://www.linkedin.com/company/partexnv/
Partex Contact:
Nidhi Duhan
Business Operations Manager
Partex NV
[email protected]
About Fortress Biotech
Fortress Biotech, Inc. ("Fortress") is an innovative biopharmaceutical company focused on acquiring and advancing assets to enhance long-term value for shareholders through product revenue, equity holdings and dividend and royalty revenue. The company has seven marketed prescription pharmaceutical products and over 20 programs in development at Fortress, at its majority-owned and majority-controlled partners and subsidiaries and at partners and subsidiaries it founded and in which it holds significant minority ownership positions. Fortress' portfolio is being commercialized and developed for various therapeutic areas including oncology, dermatology, and rare diseases. Fortress' model is focused on leveraging its significant biopharmaceutical industry expertise and network to further expand and advance the company's portfolio of product opportunities. Fortress has established partnerships with some of the world's leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including AstraZeneca, City of Hope, Fred Hutchinson Cancer Center, Nationwide Children's Hospital and Sentynl. For more information, visit www.fortressbiotech.com.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. The words "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "might," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology are generally intended to identify forward-looking statements. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include risks relating to: our growth strategy, financing and strategic agreements and relationships; our need for substantial additional funds and uncertainties relating to financings; our ability to identify, acquire, close and integrate product candidates successfully and on a timely basis; our ability to attract, integrate and retain key personnel; the early stage of products under development; the results of research and development activities; uncertainties relating to preclinical and clinical testing; our ability to obtain regulatory approval for products under development; our ability to successfully commercialize products for which we receive regulatory approval or receive royalties or other distributions from third parties; our ability to secure and maintain third-party manufacturing, marketing and distribution of our and our partner companies' products and product candidates; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.
Fortress Contact:
Jaclyn Jaffe
Fortress Biotech, Inc.
(781) 652-4500
[email protected]
Fortress Media Relations Contact:
Tony Plohoros
6 Degrees
(908) 591-2839
[email protected]
