Fortress Biotech Inc (Fortress Biotech) acquires and advances promising products and product candidates. The company operates through a network of subsidiary and partner companies that are involved in the development and commercialization of biopharmaceutical products and product candidates. These companies include Avenue Therapeutics Inc, Baergic Bio Inc, Cellvation Inc, Checkpoint Therapeutics Inc, Cyprium Therapeutics Inc, Helocyte Inc, Journey Medical Corporation, Mustang Bio Inc, Oncogenuity Inc, and Urica Therapeutics Inc. Fortress Biotech has partnerships with universities, research institutes, and pharmaceutical companies, including City of Hope National Medical Center, Fred Hutchinson Cancer Center, St. Jude Children’s Research Hospital, Dana-Farber Cancer Institute, and others.

The company's R&D initiatives focus on large-market therapeutic areas, including oncology, rare diseases, and gene therapy. Fortress Biotech has a product pipeline that includes over 20 candidates in various phases of pre-clinical and clinical development. The company has formed major technology alliances with entities like GC Cell for combined therapeutic exploration and Crystalys Therapeutics for the development of Dotinurad. Its major late-stage product candidates include Unloxcyt for cutaneous squamous cell carcinoma, Emrosi for rosacea, and CUTX-101 for Menkes disease. Early-stage candidates include Dotinurad for gout and MB-109 for malignant glioma. The R&D units of Fortress Biotech Inc include its partner companies such as Checkpoint, Journey, Cyprium, and Avenue. These units are responsible for the development and management of the company's product candidates, conducting clinical trials, and collaborating with other entities to explore therapeutic potentials. In FY2025, the company spent US$11.9 million on its R&D activities.