Benzinga | Jun 17, 2021 08:02AM EDT

Mustang Bio Awarded $300K Massachusetts Life Sciences Center Tax Incentive

Mustang Bio, Inc. ("Mustang") (NASDAQ:MBIO), a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced that it was one of 28 recipients awarded tax incentives from the Massachusetts Life Sciences Center ("MLSC"). The $300,000 tax incentive amount that Mustang was awarded is based on a hiring commitment of 20 net new full-time equivalent employees for calendar year 2021 and retaining that headcount level through 2025. The MLSC Tax Incentive Program authorized $19.5 million in tax incentives this year for companies engaged in life science research and development, commercialization and manufacturing. The program is designed to incentivize Massachusetts life science companies to create new jobs.