MUSTANG BIO, INC.

Mustang Bio, Inc. is a clinical-stage biopharmaceutical company that focuses on developing potential cures for difficult-to-treat cancers. The company acquires rights to medical technologies through licensing or ownership, funds their research and development, and then either out-licenses them or brings them to market. Mustang's current development pipeline is focused on novel therapies for solid tumors. The company partners with research institutions such as the City of Hope National Medical Center (COH) and Nationwide Children's Hospital. Mustang's strategy involves licensing technologies, supporting preclinical and clinical research activities by its partners, and developing product candidates through to potential approval. Mustang is developing a CAR T therapy for solid tumors, MB-101, in partnership with COH, which targets IL13Rα2. Additionally, the company has partnered with Nationwide for MB-108, a herpes simplex virus type 1 (HSV-1) oncolytic virus, designed to enhance the activity of MB-101 for treating patients with high-grade malignant brain tumors. The Phase 1 clinical trial for MB-101, sponsored by COH (ClinicalTrials.gov Identifier: NCT02208362), has completed its treatment phase, with patients undergoing long-term safety assessment. Similarly, the Phase 1 clinical trial for MB-108, sponsored by the University of Alabama at Birmingham (UAB) (ClinicalTrials.gov Identifier: NCT03657576), has also completed its treatment phase, with patients continuing to be assessed for long-term safety. In October 2023, the FDA accepted Mustang's Investigational New Drug (IND) application for the combination of MB-101 and MB-108, referred to as MB-109. This combination is for the treatment of patients with IL13Rα2+ relapsed or refractory glioblastoma (GBM) and high-grade astrocytoma. Following the termination of its cell processing facility lease in Worcester, MA, Mustang is exploring with COH and Nationwide the possibility of initiating this clinical trial as an investigator-sponsored single-institution study at COH in the second quarter of 2026.