Brief: Mustang Bio Announces Strategic Manufacturing Partnership And Portfolio Updates

Mustang Bio

18/05/2023 13:10

Fortress Biotech Inc  FBIO.O :
    * MUSTANG BIO ANNOUNCES STRATEGIC MANUFACTURING PARTNERSHIP
AND
PORTFOLIO UPDATES
    * MUSTANG BIO INC- UBRIGENE (BOSTON) BIOSCIENCES TO ACQUIRE
MUSTANG BIO'S WORCESTER MANUFACTURING FACILITY FOR TOTAL
CONSIDERATION OF UP TO $11 MILLION
    * MUSTANG BIO INC- BRIGENE (BOSTON) BIOSCIENCES ENTERS INTO
STRATEGIC MANUFACTURING PARTNERSHIP TO SUPPORT MB-106 AND FUTURE
PIPELINE
    * MUSTANG BIO - OPTIMIZES RESOURCES TO FOCUS ON ADVANCING
LEAD
CD20 CAR T PROGRAM, GBM PROGRAM, AND IN VIVO CAR T PLATFORM
TECHNOLOGY FROM MAYO CLINIC
    * MUSTANG BIO - TRANSACTION WITH UBRIGENE, RESTRUCTURING
EXPECTED
TO SIGNIFICANTLY REDUCE ANNUALIZED OPERATING & INTEREST EXPENSE
BY AT LEAST $28 MILLION
    * MUSTANG BIO INC- EXPECTS TO INCUR SEVERANCE CHARGES
RELATED TO
FACILITY TRANSACTION OF APPROXIMATELY $2.1 MILLION

Source text for Eikon:  ID:nGNX8BWf59 
Further company coverage:  FBIO.O