Mustang Bio (MBIO) just unveiled an update.
Mustang Bio, Inc., after previously agreeing to sell its cell processing facility and related assets to uBriGene, has now decided to repurchase them due to a national security agreement that forced the abandonment of the initial transaction. The repurchase includes assets primarily involved in cell and gene therapy manufacturing, excluding consumed or third-party transferred inventory, for $1,395,138, with deferred payment options based on the company’s financial status. This move aims to expedite divestment as mandated by the national security agreement and has led to the termination of multiple agreements between Mustang Bio and uBriGene.
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