MUSTANG BIO, INC. (MBIO): M&A transaction — Mustang Bio sells fixed assets to AbbVie for $1M, exits Worcester facility

MUSTANG BIO, INC.

Closed sale of furniture, fixtures, equipment to AbbVie for $1.0M; lease terminated.
Exits manufacturing facility in Worcester, MA; corporate HQ moved to Waltham, MA.
Expects ~$2.0M cash savings over 24 months from lease termination.
Plans to rely on academic partners and contract manufacturers for clinical trials.
Aims to initiate MB-109 (HSV-1 oncolytic virus + CAR-T) trial for GBM in H2 2025.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MUSTANG BIO, INC. completed a disposition involving AbbVie Bioresearch Center Inc. for $1.0 million (closed 2025-02-21).

Action: disposition
Counterparty: AbbVie Bioresearch Center Inc.
Consideration: $1.0 million
Closing: 2025-02-21

Exact text from the filing

Pursuant to the terms of the Sale/Surrender Agreement, AbbVie agreed to purchase from the Company, and the Company agreed to sell and convey to AbbVie, certain furniture, fixtures and equipment (“FF&E”) located in the Premises and other items as set forth in the Sale/Surrender Agreement for a purchase price of $1.0 million

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Source: SEC EDGAR

accession 0001104659-25-018299

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