NEW YORK, Feb. 02, 2017 (GLOBE NEWSWIRE) -- OPN Capital Markets, the healthcare related investment banking and research division
of National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation
(NASDAQ:NHLD) ("National Holdings" or the "Company"), a full-service investment banking and asset management firm, today
announced the successful completion of a private raise of $94.5 million for Mustang Bio, Inc., a subsidiary of Fortress Biotech,
Inc. (NASDAQ:FBIO).
This capital raise is noteworthy for the amount of first-round financing raised for Mustang Bio, Inc., a biopharmaceutical
company focused on the development of novel immunotherapies based on ground breaking Chimeric Antigen Receptor (CAR) T cells (CAR
T) technology, licensed from the City of Hope National Medical Center.
Jonathan C. Rich, Executive Vice President and Head of Investment Banking at National Securities Corporation, stated, “We are
thrilled to announce the closing of this first-round financing for Mustang Bio. We had exceptional client participation on
this offering and we look forward to raising capital for other investment banking clients in the near future.”
David C. Levine, CEO of National Securities Corporation, stated, “This is a great start for our recently branded business, OPN
Capital Markets, our healthcare focused investment banking division. The strength of our brokerage network and the quality of
the Mustang offering enabled the OPN Capital Markets division to offer this exciting investment opportunity to our investors and
raise a significant amount of first-round capital for our banking client. OPN Capital Markets looks forward to helping other
emerging biotechnology companies raise capital to advance cutting edge research.”
About Mustang Bio
Mustang Bio, Inc., a subsidiary of Fortress Biotech, Inc. (NASDAQ:FBIO), is a clinical-stage biopharmaceutical company
focused on the development and commercialization of novel cancer immunotherapy products designed to utilize the power of the
patient’s own immune system to eliminate cancer cells. Mustang aims to acquire rights to these technologies by licensing or
otherwise acquiring an ownership interest in the technologies, funding their research and development, and out-licensing or
bringing the technologies to market. Mustang is currently developing proprietary Chimeric Antigen Receptor (CAR) engineered T cells
(CAR T) technology, which was licensed from Drs. Stephen Forman and Christine Brown’s laboratory at the City of Hope National
Medical Center (COH). CAR T uses the patient’s own T cells to engage and destroy specific tumors, by selecting specific T cell
subtypes, genetically engineering them to express Chimeric Antigen T cell Receptors and placing them back in the patient where they
recognize and destroy cancer cells. Mustang, through a research agreement with COH, plans to develop CARs across multiple cancers.
Its lead programs in acute myeloid leukemia and brain cancer are in Phase 1 clinical trials. Mustang is registered under the
Securities Exchange Act of 1934, as amended, and files periodic reports with the U.S. Securities and Exchange Commission. For more
information, visit www.mustangbio.com.
About National Holdings Corporation
National Holdings Corporation (NASDAQ:NHLD) is a full-service investment banking and asset management firm that provides a range of
services, including independent retail brokerage and advisory services, investment banking, institutional sales and trading and
equity research, financial planning, market making, tax preparation, insurance and annuities, to corporations, institutional
investors and high net-worth clients. With over 1,100 independent advisors, registered reps, traders and sales associates, the
Company is a leading Independent Advisor and Broker services company. National operates through five subsidiaries: National
Securities Corporation, vFinance Investments, Inc., National Insurance Corporation, National Asset Management, Inc. and Gilman
Ciocia, Inc. The Company’s National Securities subsidiary was founded in 1947. National was organized in 1999 and is headquartered
in New York and Florida. Fortress Biotech Inc. (NASDAQ:FBIO) is a majority shareholder of National Holdings Corporation
(NASDAQ:NHLD). For more information, visit www.nhldcorp.com.
About OPN Capital Markets
OPN Capital Markets is the healthcare related investment banking and research division of National Securities Corporation, a
wholly owned subsidiary of National Holdings Corporation (NASDAQ:NHLD).
Contacts:
National Holdings Corporation:
Michael Mullen, Chief Executive Officer, Email: mm@nhldcorp.com, Telephone: +1 212 417 8055
Investor Relations, Email: ir@nhldcorp.com, Telephone: +1 212 554 4351
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements. Any such statements, other than statements of historical
fact, are based on management’s current expectations, estimates, projections, beliefs and assumptions about the Company, its
current and prospective portfolio investments, and its industry. These statements are not guarantees of future performance and are
subject to risks, uncertainties and other factors, some of which are beyond the Company’s control, difficult to predict and could
cause actual results to differ materially from those expected or forecasted in such forward-looking statements. Actual developments
and results are likely to vary materially from these estimates and projections as a result of a number of factors, including those
described from time to time in National Holdings’ filings with the Securities and Exchange Commission. Such statements speak only
as of the time when made, and National Holdings undertakes no obligation to update any such forward-looking statements, whether as
a result of new information, future events, or otherwise, except as required by law.
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