Page 1

November 12 , 2021 MUSTANGBIO Mustang Bio Reports Third Quarter 2021 Financial Results and Recent Corporate Highlights -- WORCESTER , Mass . , Nov. 12 , 2021 ( GLOBE NEWSWIRE ) . Mustang Bio , Inc. ( " Mustang " ) ( NASDAQ : MBIO ) , a clinical - stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers , solid tumors and rare genetic diseases , today announced financial results and recent corporate highlights for the third quarter ended September 30 , 2021 . Manuel Litchman , M.D. , President and Chief Executive Officer of Mustang , said , “ Mustang continued to advance the development of our CAR T therapies across multiple cancers , as well as our lentiviral gene therapies , in the third quarter of 2021. In the MB - 106 abstract posted earlier this month on the American Society of Hematology ( " ASH2021 " ) Annual Meeting website , data from 16 patients further indicate that MB - 106 CD20 - targeted autologous CAR T cell therapy has a favorable safety profile as outpatient therapy , with compelling clinical activity , ongoing durable complete responses and a high rate of CAR T persistence . The overall response rate ( " ORR ” ) was 94 % ( 15/16 ) with a complete response ( " CR " ) rate of 62 % ( 10/16 ) . In patients with follicular lymphoma ( " FL " ) ( n = 12 ) , ORR was 92 % ( 11/12 ) and CR rate was 75 % ( 9/12 ) . We look forward to disclosing additional interim MB- 106 clinical data at ASH2021 and to enrolling the first patient in the clinical trial under Mustang's investigational new drug trial to further advance MB - 106 for patients with relapsed or refractory B - cell non - Hodgkin lymphomas ( " NHL " ) or chronic lymphocytic leukemia ( " CLL " ) . " " Earlier this month , we also announced that Mustang received a National Cancer Institute ( " NCI " ) two - year grant to support our ongoing research and development of MB - 106 . We anticipate providing additional updates on our CAR T and gene therapy clinical programs in the coming months , " Dr. Litchman concluded . Recent Corporate Highlights : • In August 2021 , Mustang announced that the European Medicines Agency ( " EMA " ) granted PRIME designation to MB - 107 , its lentiviral gene therapy for the treatment of X - linked Severe Combined Immunodeficiency ( " XSCID " ) in newly diagnosed infants . • Also in August 2021 , Mustang announced an exclusive license agreement with Mayo Clinic for a novel technology that may be able to transform the administration of CAR T therapies and has the potential to be used as an off - the - shelf therapy .