Mustang Bio Announces Appointment of Brian Achenbach as Vice President of Finance and Corporate Controller
November 14 2017 - 8:30AM
Mustang Bio, Inc. (“Mustang”) (NASDAQ:MBIO), a Fortress Biotech,
Inc. (NASDAQ:FBIO) company focused on the development of novel
immunotherapies based on proprietary chimeric antigen receptor
engineered T cell (CAR T) technology, today announced the
appointment of Brian Achenbach as Vice President of Finance and
Corporate Controller. Mr. Achenbach will assume the
responsibilities previously held by Mustang’s Interim Chief
Financial Officer, David Horin.
Manuel Litchman, M.D., President and Chief
Executive Officer of Mustang, said, “We are pleased to welcome
Brian to Mustang. His extensive financial and accounting experience
in the pharmaceutical industry will be a valuable addition to our
team, as we advance on our corporate objectives as a publicly
traded biotech company. In addition, we would like to thank David
for leading Mustang’s financial strategy to-date, including our
recent NASDAQ listing and $94.5 million private placement financing
earlier this year.”
Mr. Achenbach brings to Mustang more than 25
years of experience in finance and accounting, including
approximately 15 years in the pharmaceutical and medical product
industries. Most recently, Mr. Achenbach served as Vice President
and Corporate Controller at Amerigen Pharmaceuticals Limited, where
he oversaw finance and accounting functions as the company
established itself as a commercial organization in the U.S. and
China. Prior to Amerigen, Mr. Achenbach served as Vice
President of Finance for the Americas and Vice President of Global
Financial Planning & Analysis at ConvaTec Group Plc, a
global medical products and technologies company, where he led
finance and accounting operations in the U.S., Canada and South
America. Earlier in his career, Mr. Achenbach held roles of
increasing responsibility in finance and accounting at Mylan
N.V., Andrx Corporation (acquired by Watson Pharmaceuticals Inc. in
2006) and IVAX Corporation (acquired by Teva Pharmaceutical
Industries Ltd. in 2005). Mr. Achenbach holds an M.B.A. in
finance from Roosevelt University in Chicago, and a B.A. in
economics from the University of Florida in Gainesville.
Mr. Achenbach said, “I am thrilled to join
Mustang at this exciting time in its development, as the Company
advances its six novel CAR T therapies through preclinical and
clinical development and explores opportunities to expand its
pipeline. I look forward to working with the leadership team to
continue to deliver upon Mustang’s financial and clinical
goals.”
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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