Mustang Bio Announces Appointment of Brian Achenbach as Vice President of Finance and Corporate Controller

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NEW YORK, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang”) (NASDAQ:MBIO), a Fortress Biotech, Inc. (NASDAQ:FBIO) company focused on the development of novel immunotherapies based on proprietary chimeric antigen receptor engineered T cell (CAR T) technology, today announced the appointment of Brian Achenbach as Vice President of Finance and Corporate Controller. Mr. Achenbach will assume the responsibilities previously held by Mustang’s Interim Chief Financial Officer, David Horin.

Manuel Litchman, M.D., President and Chief Executive Officer of Mustang, said, “We are pleased to welcome Brian to Mustang. His extensive financial and accounting experience in the pharmaceutical industry will be a valuable addition to our team, as we advance on our corporate objectives as a publicly traded biotech company. In addition, we would like to thank David for leading Mustang’s financial strategy to-date, including our recent NASDAQ listing and $94.5 million private placement financing earlier this year.”

Mr. Achenbach brings to Mustang more than 25 years of experience in finance and accounting, including approximately 15 years in the pharmaceutical and medical product industries. Most recently, Mr. Achenbach served as Vice President and Corporate Controller at Amerigen Pharmaceuticals Limited, where he oversaw finance and accounting functions as the company established itself as a commercial organization in the U.S. and China. Prior to Amerigen, Mr. Achenbach served as Vice President of Finance for the Americas and Vice President of Global Financial Planning & Analysis at ConvaTec Group Plc, a global medical products and technologies company, where he led finance and accounting operations in the U.S., Canada and South America. Earlier in his career, Mr. Achenbach held roles of increasing responsibility in finance and accounting at Mylan N.V., Andrx Corporation (acquired by Watson Pharmaceuticals Inc. in 2006) and IVAX Corporation (acquired by Teva Pharmaceutical Industries Ltd. in 2005). Mr. Achenbach holds an M.B.A. in finance from Roosevelt University in Chicago, and a B.A. in economics from the University of Florida in Gainesville.

Mr. Achenbach said, “I am thrilled to join Mustang at this exciting time in its development, as the Company advances its six novel CAR T therapies through preclinical and clinical development and explores opportunities to expand its pipeline. I look forward to working with the leadership team to continue to deliver upon Mustang’s financial and clinical goals.”

Fortress Biotech Media RelationsLaura Bagby6 Degrees(312) 448-8098


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Globe Newswire: 13:30 GMT Tuesday 14th November 2017

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