Mustang Bio exits lease for Massachusetts facility, divests equipment
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 27 2025
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Source: Business Insider
Mustang Bio's Facility Lease Exit: Mustang Bio has exited its lease for a manufacturing facility in Worcester, Massachusetts, selling certain assets to AbbVie Bioresearch Center for $1.0 million and relocating its headquarters to Waltham, Massachusetts. The company anticipates saving approximately $2 million in cash expenses over the next 24 months due to this lease termination.
Future Operations Strategy: Mustang plans to continue leveraging academic partnerships and future contract manufacturing relationships to support its clinical trials following the divestment of its manufacturing facility.
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About MBIO
Mustang Bio, Inc. is a clinical-stage biopharmaceutical company focused on translating medical breakthroughs into potential cures for cancers and autoimmune diseases. The Company has partnered with medical institutions to advance the development of chimeric antigen receptor modified T cell (CAR T) therapies. Its pipeline is focused in two core areas: CAR T therapies for autoimmune diseases and hematologic malignancies and CAR T therapies for solid tumors. It is developing a CAR T therapy for hematologic malignancies and autoimmune diseases in partnership with Fred Hutchinson Cancer Center targeting CD20 and for solid tumors in partnership with City of Hope National Medical Center targeting IL13Ra2. It has also partnered with Nationwide Children’s Hospital for a herpes simplex virus type 1 oncolytic virus to enhance the activity of MB-101 for the treatment of patients with high-grade malignant brain tumors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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