Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 240

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 240
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) License

On August 23, 2019, the Company entered into a non-exclusive license agreement with CSL Behring (Calimmune, Inc.) (“Calimmune License”) for the rights to the Cytegrity stable producer cell line for the production of viral vector for our lentiviral gene therapy program for the treatment of XSCID (MB-107 and MB-207). We previously licensed the XSCID gene therapy program from St. Jude Children’s Research Hospital, Inc. (“St. Jude”) in August 2018. Pursuant to the terms of the Calimmune License, the Company paid an upfront fee of $ million. CSL Behring is eligible to receive additional payments totaling $ million upon the achievement of development and commercialization milestones. Royalty payments in the low-single digits are due on net sales of licensed products.

For the year ended December 31, 2023 and 2022, the Company expensed a non-refundable milestone payments of $ and $, respectively, in connection with the Calimmune license. On August 14, 2023, we notified Calimmune that we were terminating the Calimmune license, which took effect 60 days following notification.

Research and Development Expenses - Sponsored Research and Clinical Trial Agreements

For the year ended December 31, 2023 and 2022, the Company recorded the following expense in research and development for sponsored research and clinical trial agreements:

| ​                                             
 ​                                             | ​                
 ​                
 ($ in thousands) | ​                               
 For the year ended December 31, 
 ​                               |     ​ 
  2023 | ​ | ​ |     ​ 
  2022 |
|:----------------------------------------------|:-----------------|:--------------------------------|------:|:--|:--|------:|
| City of Hope National Medical Center          | ​                | ​                               |     ​ | ​ | ​ |     ​ |
| CD123                                         | ​                | $                               |    23 | ​ | $ |   166 |
| IL13Rα2                                       | ​                | ​                               | 1,115 | ​ | ​ | 1,486 |
| CS1                                           | ​                | ​                               |   188 | ​ | ​ |   482 |
| HER2                                          | ​                | ​                               |     — | ​ | ​ |   784 |
| PSCA                                          | ​                | ​                               |    44 | ​ | ​ |   103 |
| Fred