Full Press Release Details
Mustang Bio Announces Presentations of
MB-101, a Novel IL13R 2-specific CAR-T cells Product in Clinical Development, at the American Society of Gene and Cell Therapy
New York, NY - April 18, 2016
- Mustang Bio, Inc. ("Mustang"), a Fortress Biotech (NASDAQ: FBIO) Company, today announced that two abstracts
pertaining to its MB-101 (IL13R 2-specific CAR-T cells) product candidate in development were selected for presentation at
the upcoming American Society of Gene and Cell Therapy 19th Annual Meeting (ASGCT), to be held May 4-7, 2016, at the
Marriott Wardman Park Hotel in Washington, DC.
Pre-clinical Oral Presentation:
Clinical Oral Presentation:
Copies of the above referenced abstracts can be viewed online
through the ASGCT meeting website at http://www.asgct.org/meetings-educational-programs/asgct-annual-meetings/2016-annual-meeting/attendee/abstracts.
About Glioblastoma multiforme (GBM)
Glioblastomas (GBM) are tumors that arise
from astrocytes-the star-shaped cells that make up the supportive tissue of the brain. These tumors are usually highly malignant
(cancerous) because the cells reproduce quickly and they are supported by a large network of blood vessels. GBM is the most common
brain and central nervous system (CNS) malignancy, accounting for 15.1% of all primary brain tumors, and 55.1% of all gliomas.
There are an estimated 12,120 new glioblastoma cases predicted in 2016 in the U.S. Malignant brain tumors are the most common cause
of cancer-related deaths in adolescents and young adults aged 15-39 and the most common cancer occurring among 15-19 year olds
in the U.S. (Brain Tumor Statistics. American Brain Tumor Association. December 2015). While GBM is a rare disease (2-3 cases per
100,000 person life years in the U.S. and E.U.), it is quite lethal with 5-year survival rates historically less than 10%. Chemotherapy
with temozolomide and radiation are shown to extend mean survival from ~12 to ~15 months, while surgery remains the standard of
care. GBM remains difficult to treat due to the inherent resistance of the tumor to conventional therapies. Treatment is further
complicated by the susceptibility of the brain to damage, difficulty of the brain to repair itself and limitation to drugs crossing
the blood brain barrier. Immunotherapy approaches targeting brain tumors offer promise over conventional treatments.
About MB-101 (IL13R 2-specific CAR-T cells)
IL13R 2 is an attractive target for
CAR-T therapy as it has limited expression in normal tissue but is over-expressed on the surface of the majority of GBM. CAR-T
cells designed to express a membrane-tethered IL-13 receptor ligand (IL-13) incorporating a single point mutation display high
affinity for IL13R 2 and reduced binding to IL13R 1 in order to reduce healthy tissue targeting.
We are developing an optimized CAR-T product
incorporating enhancements in CAR design and T-cell engineering to improve antitumor potency and T-cell persistence. We include
a second generation hinge optimized CAR containing mutations in the IgG4 linker to reduce off target Fc interactions, as well as
the 41BB (CD137) co-stimulatory signaling domain for improved survival and maintenance of memory T-cells, and extracellular domain
of CD19 as a selection/safety marker. In order to further improve persistence, memory T-cells are enriched and genetically engineered
using a manufacturing process that limits ex vivo expansion in order to reduce T-cell exhaustion and maintain a memory T-cell phenotype.
Mustang Bio, Inc., a Fortress Biotech
Company, is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel cancer immunotherapy
products designed to utilize the power of the patient's own immune system to eliminate cancer cells. Mustang aims to acquire
rights to these technologies by licensing or otherwise acquiring an ownership interest in the technologies, funding their research
and development and eventually either out-licensing or bringing the technologies to market. Currently Mustang is developing proprietary
Chimeric Antigen Receptor (CAR) engineered T-cells (CAR-T) technology, which was licensed from Drs. Stephen Forman and Christine
Brown's laboratory at the City of Hope National Medical Center (COH). CAR-T uses the patient's own T-cells to engage
and destroy specific tumors. The process involves selecting specific T-cell subtypes, genetically engineering them to express
chimeric antigen T-cell receptors and placing them back in the patient where they recognize and destroy cancer cells. Mustang,
through a research agreement with COH, will develop CARs across multiple cancers, including for AML and Brain Cancer. Both of
the lead programs are in Phase I clinical trials. For more information, visit www.mustangbio.com.
Mustang Bio is a majority-owned subsidiary of Fortress Biotech.
About Fortress Biotech
Fortress Biotech, Inc. ("Fortress"
or "the Company") is a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical
and biotechnology products. Fortress plans to develop and commercialize products both within Fortress and through subsidiary companies,
also known as Fortress Companies. In addition to its internal development programs, the Company will leverage its biopharmaceutical
business expertise and drug development capabilities to help the Fortress Companies achieve their goals. Additionally, the
Company will provide funding and management services to each of the Fortress Companies and, from time to time, the Company and
the Fortress Companies will seek licensing, partnerships, joint ventures and/or public and private financings to accelerate and
provide additional funding to support their research and development programs. For more information, visit www.fortressbiotech.com.
Forward-Looking Statements
This press release may contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development
programs and any other statements that are not historical facts. Forward-looking statements are based on management's current
expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial
condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks
related to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships;
our ability to identify, acquire, close and integrate product candidates successfully and on a timely basis; risks relating to
the results of research and development activities; uncertainties relating to preclinical and clinical testing; our dependence
on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development;
our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well
as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates
or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events,
conditions or circumstances on which any such statement is based, except as required by law.
781-652-4500; ir@mustangbio.com