Fortress Biotech Inc. subsidiary Mustang Bio Inc. closed on a $94.5 million private placement financing. It plans to use the funds to advance its two lead chimeric antigen receptor T-cell (CAR T) immunotherapies, MB-101 and MB-102, through phase I data readouts early next year and to grow its pipeline by exploring additional applications for its CAR T technology beyond its initial focus in brain cancer and acute myeloid leukemia.