Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 24

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 24
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 addition, we previously developed several gene
therapy product candidates, which included MB-117 and MB-217 (based on technologies licensed from St. Jude Children’s Research Hospital
(“St. Jude”)) and MB-110 (based on technologies licensed from Leiden University Medical Centre (“LUMC”)). In April
2024, we entered into a termination and release agreement with St. Jude, pursuant to which we agreed to terminate the license agreement
underpinning the MB-117 and MB-217 product candidates in exchange for a mutual release of liability and forgiveness by St. Jude of all
amounts previously owing to them. Also in April 2024, we delivered a termination notice to LUMC pursuant to which we terminated the license
agreement underpinning the MB-110 product candidate; we are currently in discussions with LUMC regarding the terms that will govern such
termination.

In June 2024, we also agreed with Mayo Foundation
for Medical Education and Research (“Mayo Clinic”) to terminate the license agreement underpinning our (now former) preclinical
in vivo CAR-T program, together with a related sponsored research agreement, in exchange for a mutual release of liability and
forgiveness by Mayo Clinic of all amounts previously owed to them.

INTELLECTUAL PROPERTY AND PATENTS

General

Our goal is to obtain, maintain and enforce patent
protection for our products, formulations, processes, methods and other proprietary technologies, preserve our trade secrets, and operate
without infringing on the proprietary rights of other parties, both in the U.S. and in other countries. Our policy is to actively seek
to obtain, where appropriate, the broad intellectual property protection for our product candidates, proprietary information and proprietary
technology through a combination of contractual arrangements and patents, both in the U.S. and elsewhere in the world.

We also depend upon the skills, knowledge and
experience of our scientific and technical personnel, as well as that of our advisors, consultants and other contractors (“know-how”).
To help protect our proprietary know-how which is not patentable, and for inventions for which patents may be difficult to enforce, we
rely on trade secret protection and confidentiality agreements to protect our interests. To this end, we require all employees, consultants,
advisors and other contractors to enter into confidentiality agreements which prohibit the disclosure of confidential information and,
where applicable, require disclosure and assignment to us of the ideas, developments, discoveries and inventions that they generate or
make, and