Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 93

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 93
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 of their other licensees, and we or a portion
of our licensed patent rights might become embroiled in such disputes.

Our licensors, depending on the patent or application,
are responsible for maintaining issued patents and prosecuting patent applications. We cannot be sure that they will perform as required.
Should they decide they no longer want to maintain any of the patents licensed to us, they are required to afford us the opportunity to
do so at our expense. If our licensors do not perform, and if we do not assume the maintenance of the licensed patents in sufficient time
to make required payments or filings with the appropriate governmental agencies, we risk losing the benefit of all or some of those patent
rights. Moreover, and possibly unbeknownst to us, our licensors may experience serious difficulties related to their overall business
or financial stability, and they may be unwilling or unable to continue to expend the financial resources required to maintain and prosecute
these patents and patent applications. While we intend to take actions reasonably necessary to enforce our patent rights, we depend, in
part, on our licensors to protect a substantial portion of our proprietary rights and to inform us of the status of those protections
and efforts thereto.

Our licensors may also be notified of alleged
infringement and be sued for infringement of third-party patents or other proprietary rights. We may have limited, if any, control or
involvement over the defense of these claims, and our licensors could be subject to injunctions and temporary or permanent exclusionary
orders in the U.S. or other countries. Our licensors are not obligated to defend or assist in our defense against third-party claims of
infringement. We have limited, if any, control over the amount or timing of resources, if any, that our licensors devote on our behalf
or the priority they place on defense of such third-party claims of infringement.

Because of the uncertainty inherent in any patent
or other litigation involving proprietary rights, we or our licensors may not be successful in defending claims of intellectual property
infringement alleged by third parties, which could have a material adverse effect on our results of operations. Regardless of the outcome
of any litigation, defending the litigation may be expensive, time-consuming and distracting to management.

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Protecting our proprietary rights is difficult and costly, and we may be unable to ensure their protection.

The degree of future protection for our proprietary
rights is uncertain because legal means afford only limited protection and