E Exclusive Interview With Lindsay Rosenwald, CEO Of Fortress Biotech 

Fortress Biotech’s goal is to identify potentially effective drug candidates, in-license them and form partner companies led by people with the expertise to develop them so they can reach patients as efficiently as possible. Fortress Biotech and our partner companies now have more than 25 product candidates. Of those, 16 are in clinical trials and five are revenue-generating dermatology products.
 

Terry Chrisomalis: Journey Medical, the dermatology business within Fortress Biotech, has experienced explosive growth from its launch in 2015. What do you attribute this growth to in an otherwise flat or declining industry?
Lindsay Rosenwald: I give a lot of credit to our team of more than 40 salespeople. They work closely with dermatologists who prescribe a lot of the dermatologic products that we sell. We also have an outstanding treatment in Journey Medical Corporation’s lead product, Targadox for acne. When we launched it in 2016, it was the only 50 mg immediate-release doxycycline hyclate tablet available on the market. Patients have had great results. Its success made Journey Medical a cash flow positive company. Now we’re working toward Journey Medical expanding beyond the dermatology space.
 


Terry Chrisomalis: You have built the Fortress Biotech foundation over the last 5 years, and regularly talk about how the business can “snowball” from here. Explain to me why your business model is so scalable?
Lindsay Rosenwald: It’s highly scalable because the clinical-stage drug development candidates that Fortress Biotech likes to acquire are plentiful, available on very reasonable terms and exceptionally high quality. We have a unique and proprietary way to identify these assets, which includes studying the market, ensuring the data is strong and determining the likelihood that the drug candidate will be successful.
 

Terry Chrisomalis: The strategy at Fortress Biotech is to Identify, Develop, and Monetize assets.  What types of products and product candidates are you looking for?
Lindsay Rosenwald: We’re interested in the drug candidate alone, so there is no one type. While most companies work in a specific space like oncology or a certain rare disease, Fortress Biotech is concerned with whether the drug treats an unmet need, the quality of the data, how its manufacturing process works and if there’s a market for it. If a drug candidate meets our criteria, we’ll consider it. I see several interesting opportunities every day, but Fortress Biotech has an extensive due diligence process that drug candidates must pass before we enter any agreements.

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Disclosure: This article is part of a new “UnderCovered” series of exclusive articles featuring companies with limited coverage. Authors are compensated by TalkMarkets for their time, and ...

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Kurt Benson 3 months ago Member's comment

Good article Lindsay A. Rosenwald. Sounds like $FBIO is on the right track. But how might the growing threat of the coronavirus impact your company?

Mike Nolan 3 months ago Member's comment

I'm wondering this as well.

Backyard Hiker 3 months ago Member's comment

Never heard of this company before but I like their business model.

Wall St. Wolf 3 months ago Member's comment

I've liked $FBIO for a while now.

Adam Reynolds 3 months ago Member's comment

$FBIO sounds like a pretty innovative company.