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Mustang Bio Awarded Massachusetts Life Sciences Center Tax Incentive
WORCESTER, Mass., June 17, 2021 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang”) (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on
About this update from Mustang Bio, Inc.
[{"type":"text","content":"WORCESTER, Mass., June 17, 2021 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang”) (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced that it was one of 28 recipients awarded tax incentives from the Massachusetts Life Sciences Center (“MLSC”). The $300,000 tax incentive amount that Mustang was awarded is based on a hiring commitment of 20 net new full-time equivalent employees for calendar year 2021 and retaining that headcount level through 2025. The MLSC Tax Incentive Program authorized $19.5 million in tax incentives this year for companies engaged in life science research and development, commercialization and manufacturing. The program is designed to incentivize Massachusetts life science companies to create new jobs. “We are honored to be a repeat recipient of a MLSC tax incentive award. It is especially gratifying given the large number of applicants that were vying for limited resources in this year’s competitive program,” said Manuel Litchman, M.D., President and Chief Executive Officer of Mustang. “This award validates the exciting work underway at Mustang with our gene and CAR T cell therapies, and we are very appreciative of MLSC’s support which provides us the opportunity to further advance our programs and create jobs in Massachusetts.” For more information on the MLSC awards, please visit: http://www.masslifesciences.com/. About Mustang BioMustang Bio, Inc. is a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases. Mustang aims to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, to fund research and development, and to outlicense or bring the technologies to market. Mustang has partnered with top medical institutions to advance the development of CAR T therapies across multiple cancers, as well as a lentiviral gene therapy for X-linked severe combined immunodeficiency. Mustang is registered under the Securities Exchange Act of 1934, as amended, and files periodic reports with the U.S. Securities and Exchange Commission (“SEC”). Must...