As previously disclosed, on May 17, 2023, Mustang Bio, Inc. (the "Company") reported to have terminated the Amended and Restated Exclusive License Agreement (the "PSCA Technology License"), dated as of August 13, 2021, by and between the Company and City of Hope ("COH") as a result of its determination to discontinue development of its MB-105 (PSCA) program (Filing, 8-K, Mustang Bio, JUL 11, 2023, View Source [SID1234633167]). In connection with the discontinuation of the Company’s MB-105 (PSCA) program and the termination of the PSCA Technology License, on July 10, 2023, the Company terminated the Exclusive License Agreement, dated as of March 17, 2017, by and between the Company and the Regents of the University of California (the "UCLA License Agreement"). Under the UCLA License Agreement, the Company received an exclusive license for the use of prostate stem cell antigen ("PSCA") chimeric antigen receptor ("CAR") engineered T cell ("CAR T") technology, which is being applied in the treatment of prostate cancer, pancreatic cancer and other solid tumors.
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The Company will not incur any early termination penalties in connection with the termination of the UCLA License Agreement. The termination of the UCLA License Agreement is effective 30 days from the date of the notice of termination. The foregoing summary is qualified in its entirety by reference to the UCLA License Agreement, filed as an Exhibit to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017, filed with the Securities and Exchange Commission on August 14, 2017.