On October 1, 2025, Urica Therapeutics, Inc., a majority‑owned subsidiary of Fortress Biotech, Inc., announced a $205 million Series A financing. The round was co‑led by Novo Holdings, SR One, and Catalys Pacific, with participation from a broad syndicate that included Perceptive Xontogeny Venture Funds, Lightstone Ventures, AN Venture Partners, abrdn Inc., KB Investments, Pontifax, Longwood Fund, Alexandria Venture Investments, Wedbush Healthcare Partners, and Prebys Ventures Fund.
The capital will be used to advance global Phase 3 clinical studies of dotinurad, a next‑generation URAT1 inhibitor for the treatment of gout. Urica retains an equity stake in Crystalys Therapeutics, the company that will conduct the trials, and is entitled to a 3 % royalty on future net sales of dotinurad once it is commercialized.
This financing strengthens Fortress’s portfolio by providing a significant cash infusion to a key subsidiary, creating potential future revenue streams through equity and royalty arrangements, and demonstrating investor confidence in the development of a promising gout therapy. The transaction is a new, material event that had not been previously reported in the existing news releases.
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