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.

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