Mustang Bio, a clinical-stage cell therapies-focused biopharmaceutical company, has exited its Worcester, Massachusetts manufacturing facility lease.
The company also divested certain fixed assets, including furniture and equipment, to AbbVie Bioresearch Center for $1m.
Mustang Bio has moved its corporate headquarters to 95 Sawyer Road, Waltham, Massachusetts, US.
The biopharmaceutical company will continue to rely on academic partners and future contract manufacturing relationships to support clinical trials.
The lease termination is expected to save the company approximately $2m in cash expenses over the next 24 months.
Nasdaq-listed Mustang Bio remains focused on advancing its portfolio and plans to initiate a novel clinical trial with MB-109 in the second half of 2025.
MB-109 combines MB-108 (HSV-1 oncolytic virus) and MB-101 (IL13Rα2-targeted CAR-T cell therapy) to treat recurrent glioblastoma (GBM) and high-grade astrocytoma.
The asset is Mustang Bio’s combination therapy, merging MB-101, licensed from City of Hope, and MB-108, licensed from Nationwide Children’s Hospital.
This combination aims to transform immunologically “cold” tumours into “hot” ones, potentially enhancing the effectiveness of MB-101 CAR-T therapy.
MB-108 is first injected to infect tumour cells, reshaping the tumour microenvironment (TME) by recruiting CD8- and CD3-positive effector T-cells. This inflamed TME may allow MB-101 CAR-T cells to better infiltrate the tumour, activate, and potentially kill tumour cells.
In November last year, MB-108 secured Orphan Drug Designation form the US Food and Drug Administration (FDA) to treat malignant glioma.
Mustang Bio is focused on advancing cell therapies to potentially cure difficult-to-treat cancers.
In June 2024, the company announced updated data from its ongoing Phase 1/2 clinical trial of MB-106, a CD20-targeted autologous CAR T-cell therapy.
The data showed a favourable safety and efficacy profile in patients with Waldenstrom macroglobulinemia (WM), a rare blood cancer.
MB-106 is being developed in collaboration with Fred Hutch Cancer Center to treat relapsed or refractory B-cell non-Hodgkin lymphomas (B-NHLs) and chronic lymphocytic leukaemia (CLL).
The biopharmaceutical company acquires rights to promising technologies through licensing or ownership, funds research and development, and aims to out license or bring these technologies to market.
Founded by Fortress Biotech, Mustang Bio also collaborates with medical institutions to develop CAR-T therapies.
