Fortress Biotech, Inc. announced that Lucy Lu, M.D., has been appointed to its Board of Directors. Dr. Lu is an accomplished executive with over 20 years of experience in a wide range of financial and drug development matters in the biotech and healthcare sectors as an investment banker, equity research analyst and executive at several biotech companies. Since April of 2022, Dr. Lu has served as Chief Operating Officer of Innovative Cellular Therapeutics, a clinical-stage biotechnology company focused on the development of cellular immunotherapies for the treatment of solid tumors.

Additionally, she is currently a member of the Board of Directors of Inventiva, a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies and is also a member of the Board of Directors and Audit Committee Chair of Veru Inc. Previously, Dr. Lu was President and Chief Executive Officer of Avenue, where she co-invented the foundational U.S. patents for intravenous tramadol, led its Nasdaq initial public offering and directed the clinical development program including two successful Phase 3 studies. From February 2012 to June 2017, she was Executive Vice President and Chief Financial Officer of Fortress Biotech, Inc. Prior to working in the biotech industry, Dr. Lu spent a decade in healthcare equity research and investment banking. From February 2007 through January 2012, she was a senior biotechnology equity analyst with Citigroup Investment Research.

Dr. Lu holds an M.D. from the New York University School of Medicine and an M.B.A. from the NYU Stern School of Business. She obtained a B.A. from the University of Tennessee's College of Arts and Science.