Coronado Biosciences Inc (NASDAQ:CNDO) recently announced that it will create a new company called Mustang Therapeutics, Inc., in alliance with the Duarte, CA based City of Hope. Apart from the amount involved in developing CAR-T cells, the deal is worth over and above $40 million through the milestone and upfront payments. These payments shall be made to the City of Hope.
Mustang’s Initial Objectives
In its initial phase, Mustang’s objective will be the pre-clinical as well as clinical expansion of CAR-T Technology. At the same time, the new company will focus on getting complete commercialization of its own Chimeric Antigen Receptor Technology (CAR-T Tech). The apprehensions are that the enrolment of initial two cells of this technology in clinical trials on humans shall begin in 2015 itself in the City of Hope.
Mustang: A Ray of Light for the Cancer Patients
The CEO & Chairman of Coronado Biosciences Inc (NASDAQ:CNDO), Dr. Lindsay Rosenwald believes that the Chimeric Antigen Receptor T-cells development at the new company will play a crucial role in the field of oncology, especially refractory and fatal cancers. With the latest technology in Mustang, the immune cells of patients shall undergo engineering in order to provide effective treatment in cancers. The CAR-T technology shall create a dramatic and helpful effect in therapies used in cancers.
CAR-T cells portfolio was first developed at the T cell Therapeutics Research Laboratory (TRL) by its Director, Dr. Stephen Forman. Also, there were others involved, such as Hematology and Hematopoietic Cell Transplantation senior officials and the T Cell TRL’s Associate Director, Dr. Christine Brown.
This is therefore, also called the partnership of the company with not just the City of Hope, but also Dr. Stephen Forman’s Laboratory.
On the other hand, George Megaw of the City of Hope said that by partnering with this company, the execution and designing of clinical trials in respect to this fatal medical condition shall be done in timely approach.