Benzinga | Aug 2, 2021 10:31AM EDT

Mustang Bio's Gene Therapy For Genetic Immunodeficiency Receives European PRIME Tag

* The European Medicines Agency has granted Priority Medicines designation to Mustang Bio Inc's (NASDAQ:MBIO) MB-107 for X-linked severe combined immunodeficiency (X-SCID) in newly diagnosed infants, also known as bubble boy disease.

* The Company is preparing to initiate a pivotal, multicenter Phase 2 clinical trial of MB-107 in newly diagnosed patients with X-SCID at the end of Q3.

* The PRIME program aims to optimize development plans and speed up the evaluation of promising medicines.

* X-linked severe combined immunodeficiency is a rare genetic disorder characterized by the absence or lack of function of key immune cells, resulting in a severely compromised immune system and death by one year of age if untreated.

* Price Action: MBIO shares are down 2.08% at $2.83 during the market session on the last check Monday.

* Related content: Benzinga's Full FDA Calendar.