Mustang Bio Announces Expansion of CAR T Pipeline into CD20-Directed Immunotherapies
September 14 2017 - 8:00AM
Entered license agreement with Fred Hutchinson
Cancer Research Center for CD20-directed CAR T
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 the expansion of
its pipeline of CAR T therapies into CD20-directed immunotherapies.
Mustang has entered into an exclusive, worldwide
licensing agreement with Fred Hutchinson Cancer Research Center
(“Fred Hutch”) for the use of a CAR T therapy related to autologous
T cells engineered to express a CD20-specific chimeric antigen
receptor (“CD20 Technology”). The CAR T was developed in the
laboratory of Oliver Press, M.D., Ph.D., and Brian Till, M.D., in
Fred Hutch’s Clinical Research Division.
As part of the transaction, Mustang entered into
an investigator-initiated clinical trial agreement to provide
partial funding for a Phase 1/2 clinical trial at Fred Hutch
evaluating the safety and efficacy of the CD20 Technology in
patients with relapsed or refractory B-cell non-Hodgkin lymphomas.
The trial is expected to initiate in the fourth quarter of 2017,
and will be led by principal investigator Mazyar Shadman, M.D.,
Assistant Member of Fred Hutch’s Clinical Research Division.
Manuel Litchman, M.D., President and Chief
Executive Officer of Mustang, said, “We are thrilled to announce
this partnership opportunity that will enable us to expand our CAR
T pipeline into CD20-directed immunotherapies targeting B-cell
malignancies. We look forward to working with the team at Fred
Hutch to rapidly advance the promising CD20 Technology to patients
in need. With the execution of this agreement, Mustang is now
evaluating six novel CAR Ts in clinical and preclinical trials, and
we remain focused on expanding our pipeline of compelling CAR T
therapies.”
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 has partnered with the City of Hope
National Medical Center (“COH”) and the Fred Hutchinson Cancer
Research Center in the development of proprietary chimeric antigen
receptor (CAR) engineered T cell (CAR T) therapies across many
cancers. Mustang’s lead programs are in Phase 1 clinical 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 licensing arrangements, 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, each as amended. 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 value.
Factors that could cause actual results to differ materially from
those currently anticipated include: risks relating to our growth
strategy; our ability to obtain, perform under and maintain
financing and strategic agreements and relationships; risks
relating to the results of research and development activities;
risks relating to the timing of starting and completing clinical
trials; uncertainties relating to preclinical and clinical testing;
our dependence on third-party suppliers; our ability to attract,
integrate and retain key personnel; the early stage of products
under development; our need for substantial additional funds;
government regulation; patent and intellectual property matters;
competition; as well as other risks described in our SEC filings.
We expressly disclaim 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 JaffeMustang Bio, Inc.(781)
652‐4500ir@mustangbio.com
Fortress Biotech Media RelationsLaura Bagby6 Degrees(312)
448-8098lbagby@6degreespr.com
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