Mustang Bio Announces License Agreement with Harvard University, and Research Collaboration with Beth Israel Deaconess Medica...
December 04 2017 - 8:30AM
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, today announced that it has
entered into a license agreement with Harvard University and a
research collaboration agreement with Beth Israel Deaconess Medical
Center (“BIDMC”) for the development of CRISPR/Cas9-enhanced CAR T
therapies for the treatment of cancer.
Under the licensing agreement with Harvard’s
Office of Technology Development, technologies related to the
development of off-the-shelf CAR T, as well as CRISPR/Cas9 gene
editing platforms, will be utilized in conjunction with Mustang’s
CAR T cell therapies for the development of treatments for
hematologic malignancies and solid tumors. The Harvard technologies
were developed in the lab of Chad Cowan, Ph.D., Associate Professor
in the Department of Stem Cell and Regenerative Biology and a
Principal Investigator at the Harvard Stem Cell Institute.
Under a separate collaboration agreement, Dr.
Cowan will lead preclinical research programs at BIDMC, where he is
an Associate Professor of Medicine in the Division of
Cardiovascular Medicine.
Manuel Litchman, M.D., President and Chief
Executive Officer of Mustang, said, “Mustang is committed to
advancing the development of innovative immunotherapies for the
treatment of cancer. CRISPR/Cas9’s demonstrated precision may
enable us to more effectively and accurately deliver our CAR T
therapies and to enhance the tumor killing ability and persistence
of the CAR T cells in the patient’s body, which could lead to safer
and more potent treatments. We look forward to working with Dr.
Cowan and his team on this exciting collaboration to accelerate the
development of the next generation of 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 (“FHCRC”) in the development of proprietary
chimeric antigen receptor (“CAR”) engineered T cell (“CAR T”)
therapies across many cancers, and with Harvard University and Beth
Israel Deaconess Medical Center for the development of
CRISPR/Cas9-enhanced CAR T therapies in hematologic malignancies
and solid tumors. Mustang’s lead programs are in Phase 1 clinical
trials at COH and FHCRC: MB-101 for the treatment of brain cancer,
MB-102 as a therapeutic agent in acute myeloid leukemia, and MB-106
for non-Hodgkin lymphoma. 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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