About Mustang Bio
Mustang Bio is a publicly listed company based in New York (United States) founded in 2015. Mustang Bio is focused on developing cell therapies for cancers. It operates on a HealthTech model. Mustang Bio has raised $95 million across 6 funding rounds from investors including HHS, Horizon Tech Finance and CIRM. The company has 6 employees. Its chief executive, as recorded, is Manuel Litchman. Mustang Bio offers products and services including CAR T Cell Therapy. Its focus areas include Biotechnology and Cell Therapy. Its competitors include Moderna, BeiGene and Incyte; 2 of its 3 listed competitors have raised funding.
Company details
Mustang Bio is engaged in the development of next-generation cell therapies aimed at treating difficult-to-treat cancers. The company in-licenses innovative technologies and collaborates with world-class teams to translate breakthroughs into potential cures. Emphasis is placed on achieving uniformity and scale in therapy production, alongside building advanced manufacturing capabilities to deliver CAR T therapies to patients. The primary sector of operation is biotechnology, with a focus on healthcare solutions.
- Headquarters New York, United States
- Employees 6
- Stage Public
- SectorsHealthcare
- Website category Health · Biotechnology and Pharmaceuticals
- Email••••••••
- Phone•••• ••••
- Website mustangbio.com
- Social LinkedIn X
- Legal Name Mustang Bio, Inc.
- Net Profit-$1.92 M (USD)87.8as on Dec 31, 2025
- EBITDA-$2.39 M (USD)79.62as on Dec 31, 2025
- Total Equity Funding$95M (USD)
in 6 rounds
- Latest Funding Round$4.74M (USD), Post-IPO
Oct 2023
- InvestorsHHS
& 2 more
- Employee Count6
Products & Services of Mustang Bio
Mustang Bio offers a comprehensive portfolio of products and services, including CAR T Cell Therapy.
Cell therapies are developed for difficult-to-treat cancers.
Funding Insights of Mustang Bio
Mustang Bio has successfully raised a total of $95M across 6 strategic funding rounds. The most recent funding activity was a Post-IPO round of $4.74 million completed in October 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $95M
- Total Rounds 6
- Last Round Post-IPO — $4.74M
- First Round $94.59M
(Feb 2017)
- Investors Count 3
All 6 funding rounds of Mustang Bio with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
3 investors in total: 3 institutional.
Investors in Mustang Bio
Mustang Bio has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include HHS, Horizon Tech Finance and CIRM.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Structured debt is provided to life sciences and technology firms. | 2004 | horizontechfinance.com | Farmington, United States | |
Public health and human services are overseen by HHS. | 1953 | hhs.gov | ||
| cirm.ca.gov |
Investor details for Mustang Bio
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Mustang Bio
11 people are tracked at Mustang Bio (3 in leadership, 5 in board & advisors, 3 in team); the tracked headcount is 6.
| Name | Role | Group |
|---|---|---|
Manuel Litchman | CEO | Leadership |
Albert Paszek | Executive Director, Manufacturing Science & Technology | Leadership |
Greg Furrow | VP, Quality | Leadership |
Michael J. Zelefsky | Director | Board & advisors |
Neil Herskowitz | Director | Board & advisors |
Michael S. Weiss | Chairman | Board & advisors |
Lindsay A. Rosenwald | Director | Board & advisors |
Adam J. Chill | Director | Board & advisors |
Peter Carney | Controller | Team |
Mariah Barata Búrigo | Quality Assurance Specialist II | Team |
Matthew Baker | Engineering & Facility Operations Manager | Team |
Complete people profiles for Mustang Bio
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Mustang Bio
Mustang Bio is a publicly listed company on the NASDAQ with ticker symbol MBIO in USA, operating in the Health technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date14 Apr 2017
- Listed onNASDAQ: MBIO
- Listed entityMustang Bio, Inc.
- Exchange sectorHealth technology
- ISINUS62818Q3020
- Share price$0.38 (-8.63% on the day) · 2026-10-13
- Market capitalisation$2.9M
- EPS (diluted, trailing year)$-0.45
- Volume (last session)31,257
Financials of Mustang Bio
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2025 | -$1.9M | -$2.4M | |
| 2024 | -$15.8M | -$11.7M | |
| 2023 | -$51.6M | -$48.5M | |
| 2022 | -$77.5M | -$73.1M | |
| 2021 | -$66.4M | -$64.4M |
Detailed financial statements for Mustang Bio
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Mustang Bio
4 dated milestones of Mustang Bio across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Mustang Bio is founded.
- Funding First funding round of $94.6M.
- IPO Lists on the stock exchange (IPO).
- Funding Latest funding round, Post-IPO, of $4.7M.
Competitors of Mustang Bio
Mustang Bio has 3 listed competitors in our database, 2 of them funded. They include Moderna, BeiGene and Incyte.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| modernatx.com | 2010 | Cambridge, United States | $2.78B | 1,312 | mRNA-based therapeutics for diseases including cancer and infections are developed. | |
| beigene.com | 2010 | Cambridge, United States | $172M | 1,090 | Targeted and immune-oncology drugs for cancer treatment are developed. | |
| incyte.com | 1991 | Wilmington, United States | 1,387 | Small molecules are developed for cancer and skin disease treatments. |
Detailed competitors of Mustang Bio
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Mustang Bio
The website of Mustang Bio (mustangbio.com) receives about 4.1K visits a month and ranks #4,179,097 among all websites worldwide, #5,174 in Biotechnology and Pharmaceuticals.
- Monthly visits4.1K
▲ 3.4% vs previous month
- Unique visitors1.6K
per month
- Global rank#4,179,097
among all websites
- Category rank#5,174
Health · Biotechnology and Pharmaceuticals
- Bounce rate42%
- Pages per visit2.0
- Average visit37 sec
- DevicesDesktop 46% · Mobile 54%
Websites whose visitors overlap most with Mustang Bio. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| tgtherapeutics.com | 100% | 29.4K | #1,758,849 | View details |
Top companies in Cell Therapy
3 companies that operate in the same segment as Mustang Bio (Cell Therapy) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
CAR T-cell and T-cell receptor immunotherapies for cancer are developed. | 2013 | Seattle, Washington, United States | USD 316.67 M | 520 | ||
CAR-T and TIL immunotherapies for solid tumors are developed. | 2018 | San Francisco, California, United States | USD 493 M | USD 36 K | 233 | |
Smart surgical devices for spinal surgery are developed. | 1997 | San Diego, California, United States | USD 54.1 M |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Mustang Bio
Complete news archive for Mustang Bio
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Mustang Bio
Mustang Bio was founded in 2015 and raised its 1st funding round 2 years after it was founded.
Mustang Bio is headquartered in New York, United States. It is registered at New York, New York, United States.
Manuel Litchman is the CEO of Mustang Bio, as recorded in our data.
Mustang Bio is a funded company, having raised a total of $95M across 6 funding rounds to date. The company's 1st funding round was a Series A of $94.59M, raised on Feb 2017.
Mustang Bio has 6 employees.
Mustang Bio is engaged in the development of next-generation cell therapies aimed at treating difficult-to-treat cancers. The company in-licenses innovative technologies and collaborates with world-class teams to translate breakthroughs into potential cures. Emphasis is placed on achieving uniformity and scale in therapy production, alongside building advanced manufacturing capabilities to deliver CAR T therapies to patients. The primary sector of operation is biotechnology, with a focus on healthcare solutions.
Mustang Bio offers CAR T Cell Therapy.
Yes, Mustang Bio is publicly traded on NASDAQ under the ticker symbol MBIO.
Mustang Bio has 3 investors. Key investors include HHS, Horizon Tech Finance, and CIRM.
Mustang Bio operates through Mustang Bio.