Company: MBIO
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001104659-25-018303
Chunk: 17

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-27
Form: 424B3
Chunk 17
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ality, or unenforceability shall not affect any other provision of this Amendment, and First Amendment shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS AMENDMENT OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.

<div align='center'>[SIGNATURES APPEAR ON THE FOLLOWING PAGE]</div>

IN WITNESS WHEREOF,Landlord and Tenant have executed this Amendment to Lease as of the day and year first above written.

| TENANT:                           |                  |
| MUSTANG BIO, INC.                 |                  |
| /s/ Manuel Litchman               |                  |
| By:                               | Manuel Litchman  |
| Its:                              | President & CEO  |
| LANDLORD:                         |                  |
| WCS - 377 PLANTATION STREET, INC. |                  |
| /s/ Marcy Culvervill              |                  |
| By:                               | Marcy Culvervill |
| Its:                              | President        |

Exhibit 99.1

<div align='center'>Mustang Bio Announces Sale of Fixed Assets and Exit of Facility</div>

Waltham, MA– February 27, 2025– Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO),a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell therapies into potential
cures for difficult-to-treat cancers, today announced the exit of the lease for its manufacturing facility in Worcester, Massachusetts
and concurrent divestment of certain fixed assets including furniture and equipment to AbbVie Bioresearch Center Inc., a Delaware corporation
(“AbbVie”), for $1.0 million.

Mustang has relocated its corporate headquarters
to 95 Sawyer Road, Waltham, Massachusetts.

Mustang expects to continue to rely on its academic
partners and future contract manufacturing relationships to support clinical trials. As a result of the termination of its lease, the
Company expects savings of approximately $2.0