NEW YORK, May 15, 2017 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang”), 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 financial results and recent corporate highlights for the quarter ended March 31, 2017.
Dr. Manuel Litchman, President and Chief Executive Officer of Mustang, said, “In the first quarter of 2017, Mustang strengthened our position as an emerging leader in the CAR T field with key milestones that will enable us to advance the development of meaningful therapies. From October 2016 to March 2017, we secured roughly $95.0 million in private placement financings to support the clinical progress of our lead CAR T therapies, MB-101 and MB-102, and our expansion into new CAR Ts and therapeutic indications. In addition, we entered into strategic licensing agreements that will allow us to build out our cancer detection and targeting applications. I was thrilled to join the team in April, and look forward to continuing to deliver on milestones that validate Mustang’s therapeutic potential.”
