Friday, March 20, 2015
Coronado Biosciences has formed a new company, Mustang Therapeutics, in partnership with California research and treatment center City of Hope. Mustang initially will focus on the preclinical and clinical development, as well as commercialization of proprietary Chimeric Antigen Receptor (CAR-T) technology. 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 the first two CAR-T cells from this partnership will begin enrollment in human clinical trials at the City of Hope this year.