Mustang Bio Commences Trading on the NASDAQ Global Market
August 22 2017 - 10:15AM
Mustang Bio, Inc. (“Mustang”) (NASDAQ:MBIO), a Fortress Biotech
(NASDAQ:FBIO) Company focused on the development of novel
immunotherapies based on proprietary chimeric antigen receptor
engineered T cell (CAR T) technology, announced that its common
stock will commence trading on the NASDAQ Global Market under
the symbol “MBIO” today.
Manuel Litchman, M.D., President and Chief Executive Officer of
Mustang, said, "Joining the NASDAQ Global Market is a significant
milestone for Mustang and our stockholders, and will further
establish Mustang in the investment community. We look forward to
reporting key milestones in the coming months that may drive
substantial value, including initiating construction on a
proprietary CAR T manufacturing facility later this year, and
reading out Phase 1 data from our lead CAR T therapies MB-101 in
glioblastoma and MB-102 in acute myeloid leukemia in early
2018.”
About Mustang BioMustang Bio, Inc., a
subsidiary of Fortress Biotech, Inc., is a clinical‐stage
biopharmaceutical company focused on the development and
commercialization of novel cancer immunotherapy products designed
to leverage 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, funding
research and development, and outlicensing or bringing the
technologies to market. Mustang is currently developing proprietary
chimeric antigen receptor (CAR) engineered T cell (CAR T)
technology, which was licensed from Drs. Stephen Forman and
Christine Brown’s laboratory at the City of Hope National Medical
Center (“COH”). Mustang and COH have established a research
agreement to develop CARs across multiple cancers. Mustang’s lead
programs are in Phase 1 trials at COH: MB-101 for the treatment of
brain cancer, and MB-102 as a therapeutic agent in acute myeloid
leukemia. 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 Fortress BiotechFortress
Biotech, Inc. (“Fortress”) is a biopharmaceutical company dedicated
to acquiring, developing and commercializing novel pharmaceutical
and biotechnology products. Fortress develops and commercializes
products both within Fortress and through certain of its subsidiary
companies, also known as Fortress Companies. In addition to its
internal development programs, Fortress leverages its
biopharmaceutical business expertise and drug development
capabilities and provides funding and management services to help
the Fortress Companies achieve their goals. Fortress and the
Fortress Companies may seek licensings, acquisitions, partnerships,
joint ventures and/or public and private financings to accelerate
and provide additional funding to support their research and
development programs. For more information, visit
www.fortressbiotech.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements relating to our
growth strategy and product development programs and any other
statements that are not historical facts. Forward-looking
statements are based on management’s current expectations and are
subject to risks and uncertainties that could negatively affect our
business, operating results, financial condition and stock price.
Factors that could cause actual results to differ materially from
those currently anticipated are: the risk that the listing on the
NASDAQ Global Market will not provide the liquidity in its common
stock that is expected, making an investment in the stock less
attractive and limiting capital-raising efforts in the public
markets; the risk that Mustang will not be able to advance its
research programs; risks related to the timing of starting and
completing clinical trials; risks inherent in research and
development activities; risks related to its growth strategy; its
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; uncertainties relating to
preclinical and clinical testing; its dependence on third-party
suppliers; its ability to attract, integrate and retain key
personnel; the early stage of products under development; its need
for substantial additional funds; government regulation; patent and
intellectual property matters; competition; as well as other risks
described in Mustang’s public filings and reports. Mustang
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by law.
Contacts:
Jaclyn Jaffe
Mustang Bio, Inc.
(781) 652‐4500
ir@mustangbio.com
Fortress Biotech Media Relations
Laura Bagby
6 Degrees
(312) 448-8098
lbagby@6degreespr.com
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