Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 31

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 31
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 2018, we entered into a non-exclusive
license agreement with COH to acquire patent and licensed know-how rights related to developing, manufacturing, and commercializing licensed
products. We paid $75,000 in consideration for the licenses to the patent rights and the licensed know-how in addition to an annual maintenance
fee. Royalty payments in the low-single digits are due on net sales of licensed products.

Fred Hutchinson Cancer Center

CD20 Technology License

Effective July 3, 2017, we entered into an exclusive,
worldwide licensing agreement with Fred Hutch for the use of a CAR T therapy related to autologous T cells engineered to express a CD20-specific
CAR (the “CD20 Technology License”). Pursuant to the CD20 Technology License, we paid Fred Hutch an upfront fee of $0.3 million
and owes an annual maintenance fee of $50,000 on each anniversary of the license until our achievement of regulatory approval of a licensed
product using the CD20 Technology. Additional payments are due for the achievement of development milestones totaling $39.1 million. Royalty
payments in the mid-single digits are due on net sales of licensed products.

CD20 CTA (NHL and CLL)

Also, on July 3, 2017, in conjunction with the
CD20 Technology License from Fred Hutch, we entered into an investigator-initiated clinical trial agreement (the “CD20 CTA”)
to provide partial funding for a Phase 1/2 clinical trial at Fred Hutch evaluating the safety and efficacy of the CD20 Technology in patients
with relapsed or refractory B-cell non-Hodgkin lymphomas (“NHLs”). In connection with the CD20 CTA, we agreed to fund up to
$5.3 million of costs associated with the clinical trial, which commenced during the fourth quarter of 2017.

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In November 2020, the CD20 CTA was amended to
include additional funding of approximately $1.8 million, and in January 2022, the CTA was amended to increase funding by approximately
$2.2 million for the treatment of additional patients.

Nationwide Children’s Hospital License

On February 20, 2019, we entered into an exclusive
worldwide license agreement with Nationwide for the development of an oncolytic virus (referred to by Nationwide as C134; now referred
to by us as MB-108) for the treatment