Brief: Mustang Bio Announces Amendment And Closing Of Partnership With uBriGene Biosciences

Mustang Bio

31/07/2023 13:44

July 31 (Reuters) - Fortress Biotech Inc  FBIO.O :
    * MUSTANG BIO ANNOUNCES AMENDMENT AND CLOSING OF STRATEGIC
MANUFACTURING PARTNERSHIP TRANSACTION WITH UBRIGENE (BOSTON)
BIOSCIENCES
    * MUSTANG BIO - CO, UBRIGENE EXPECT TO COMPLETE FILING JOINT
VOLUNTARY NOTICE TO OBTAIN CLEARANCE FOR TRANSACTION FROM U.S.
CFIUS NO LATER THAN AUGUST 31
    * MUSTANG BIO - AMENDED AGREEMENT PROVIDES THAT MUSTANG WILL
CONTINUE TO WORK WITH UBRIGENE TO SECURE ASSIGNMENT OF ITS
MANUFACTURING FACILITY LEASE
    * MUSTANG BIO INC- UPON TRANSFER OF LEASE TO UBRIGENE,
MUSTANG'S
HEADQUARTERS WILL RELOCATE TO 1 MERCANTILE STREET, IN WORCESTER,
MA
    * MUSTANG BIO- SEES UPFRONT PROCEEDS FROM DEAL, RECENT
REDUCTIONS
IN OPEX OF PORTFOLIO, RESOURCE OPTIMIZATION TO EXTEND CO'S CASH
RUNWAY INTO EARLY 2024
    * MUSTANG BIO-AT CLOSING, CO, UBRIGENE ENTERED MANUFACTURING
SERVICES DEAL UNDER WHICH CO CONTRACTED UBRIGENE TO MANUFACTURE
CO'S LEAD PRODUCT CANDIDATES

Source text for Eikon:  ID:nGNX8QYDbg 
Further company coverage:  FBIO.O 

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