National Holdings’ OPN Capital Markets Closes $94.5 Million Private Placement Financing for Mustang Bio, Inc., a Subsidiary...
February 02 2017 - 7:30AM
OPN Capital Markets, the healthcare related investment banking and
research division of National Securities Corporation, a wholly
owned subsidiary of
National Holdings Corporation
(NASDAQ:NHLD) ("National Holdings" or the "Company"), a
full-service investment banking and asset management firm, today
announced the successful completion of a private raise of $94.5
million for Mustang Bio, Inc., a subsidiary of Fortress Biotech,
Inc. (NASDAQ:FBIO).
This capital raise is noteworthy for the amount of first-round
financing raised for Mustang Bio, Inc., a biopharmaceutical company
focused on the development of novel immunotherapies based on ground
breaking Chimeric Antigen Receptor (CAR) T cells (CAR T)
technology, licensed from the City of Hope National Medical
Center.
Jonathan C. Rich, Executive Vice President and Head of
Investment Banking at National Securities Corporation, stated, “We
are thrilled to announce the closing of this first-round financing
for Mustang Bio. We had exceptional client participation on
this offering and we look forward to raising capital for other
investment banking clients in the near future.”
David C. Levine, CEO of National Securities Corporation, stated,
“This is a great start for our recently branded business, OPN
Capital Markets, our healthcare focused investment banking
division. The strength of our brokerage network and the
quality of the Mustang offering enabled the OPN Capital Markets
division to offer this exciting investment opportunity to our
investors and raise a significant amount of first-round capital for
our banking client. OPN Capital Markets looks forward to helping
other emerging biotechnology companies raise capital to advance
cutting edge research.”
About Mustang BioMustang Bio, Inc., a
subsidiary of Fortress Biotech, Inc. (NASDAQ:FBIO), is a
clinical-stage biopharmaceutical company focused on the development
and commercialization of novel cancer immunotherapy products
designed to utilize the power of the patient’s own immune system to
eliminate cancer cells. Mustang aims to acquire rights to these
technologies by licensing or otherwise acquiring an ownership
interest in the technologies, funding their research and
development, and out-licensing or bringing the technologies to
market. Mustang is currently developing proprietary Chimeric
Antigen Receptor (CAR) engineered T cells (CAR T) technology, which
was licensed from Drs. Stephen Forman and Christine Brown’s
laboratory at the City of Hope National Medical Center (COH). CAR T
uses the patient’s own T cells to engage and destroy specific
tumors, by selecting specific T cell subtypes, genetically
engineering them to express Chimeric Antigen T cell Receptors and
placing them back in the patient where they recognize and destroy
cancer cells. Mustang, through a research agreement with COH, plans
to develop CARs across multiple cancers. Its lead programs in acute
myeloid leukemia and brain cancer are in Phase 1 clinical trials.
Mustang is registered under the Securities Exchange Act of 1934, as
amended, and files periodic reports with the U.S. Securities and
Exchange Commission. For more information, visit
www.mustangbio.com.
About National Holdings CorporationNational
Holdings Corporation (NASDAQ:NHLD) is a full-service investment
banking and asset management firm that provides a range of
services, including independent retail brokerage and advisory
services, investment banking, institutional sales and trading and
equity research, financial planning, market making, tax
preparation, insurance and annuities, to corporations,
institutional investors and high net-worth clients. With over 1,100
independent advisors, registered reps, traders and sales
associates, the Company is a leading Independent Advisor and Broker
services company. National operates through five subsidiaries:
National Securities Corporation, vFinance Investments, Inc.,
National Insurance Corporation, National Asset Management, Inc. and
Gilman Ciocia, Inc. The Company’s National Securities subsidiary
was founded in 1947. National was organized in 1999 and is
headquartered in New York and Florida. Fortress Biotech Inc.
(NASDAQ:FBIO) is a majority shareholder of National Holdings
Corporation (NASDAQ:NHLD). For more information, visit
www.nhldcorp.com.
About OPN Capital Markets
OPN Capital Markets is the healthcare related investment banking
and research division of National Securities Corporation, a wholly
owned subsidiary of National Holdings Corporation
(NASDAQ:NHLD).
Contacts:
National Holdings Corporation: Michael Mullen, Chief Executive
Officer, Email: mm@nhldcorp.com, Telephone: +1 212 417 8055
Investor Relations, Email: ir@nhldcorp.com, Telephone: +1 212
554 4351
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking
statements. Any such statements, other than statements of
historical fact, are based on management’s current expectations,
estimates, projections, beliefs and assumptions about the Company,
its current and prospective portfolio investments, and its
industry. These statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond the Company’s control, difficult to predict and
could cause actual results to differ materially from those expected
or forecasted in such forward-looking statements. Actual
developments and results are likely to vary materially from these
estimates and projections as a result of a number of factors,
including those described from time to time in National Holdings’
filings with the Securities and Exchange Commission. Such
statements speak only as of the time when made, and National
Holdings undertakes no obligation to update any such
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
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