On March 19, 2015 Coronado Biosciences reported the formation of a new company, Mustang Therapeutics, Inc. Mustang will initially focus on the preclinical and clinical development, as well as commercialization of proprietary Chimeric Antigen Receptor (CAR-T) technology (Press release, Coronado Biosciences, MAR 19, 2015, View Source;FID=1500069685 [SID:1234502337]). This portfolio of CAR-T cells was developed by Dr. Stephen Forman, Director, T cell Therapeutics Research Laboratory and the Francis and Kathleen McNamara Distinguished Chair in Hematology and Hematopoietic Cell Transplantation, and Dr. Christine Brown, Associate Director, T cell Therapeutics Research Laboratory and Associate Research Professor. The deal is valued in excess of $40 million for the development of these CAR-T cells via up-front and milestone payments to City of Hope. It is anticipated that the first two CAR-T cells from this partnership will begin enrollment in human clinical trials at the City of Hope this year.
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Dr. Lindsay Rosenwald, Coronado Biosciences’ Chairman and CEO, commented, "The development of Chimeric Antigen Receptor T-cells for serious, refractory cancers is a burgeoning field of oncology. The engineering of patients’ immune cells to treat cancers may have a dramatic effect in cancer therapy. We are excited to have formed this partnership with the City of Hope and the laboratory of Dr. Stephen Forman."
George Megaw, City of Hope’s Director of the Office of Technology Licensing stated, "We are delighted to be able to partner with Coronado Biosciences in the formation of Mustang Therapeutics. We are impressed with the ability of their executive team to design and execute clinical trials in important medical conditions in a timely and expeditious manner. At City of Hope, our goal is to alleviate human suffering and disease and we believe Mustang Therapeutics will be able to offer novel and effective therapies to cancer patients."
About Mustang Therapeutics
Mustang Therapeutics is a development stage oncology company newly formed in partnership with the City of Hope in Duarte, CA. Mustang will focus on preclinical and clinical development, as well as commercialization of proprietary Chimeric Antigen Receptor (CAR-T) technology for refractory cancers.