Mesoblast Receives Funding for Novel Stem Cell Technology for Spinal Vertebral Disc Disease

posted in Biologics, Degenerative Disc Disease, What's New

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Mesoblast Limited (ASX:MSB)(PINK:MBLTY) announced that it has successfully completed a private placement to existing, as well as new, institutional and sophisticated investors, raising A$10.81 million. The new funds will be used to expand the company’s clinical trial programs focusing on bone and cartilage regenerative products for spinal vertebral disc disease.

Mesoblast’s Executive Director, Professor Silviu Itescu, said he welcomed the ongoing strong support from the Company’s institutional and major shareholders.
“We are very pleased with the continued confidence displayed by our shareholders in the value of Mesoblast’s adult stem cell platform technology, and in the ability of the Company’s management to achieve timely technical milestones and deliver commercial outcomes”.

About Mesoblast Limited

Mesoblast Limited (ASX:MSB)(USOTC:MBLTY) is an Australian biotechnology company committed to the development of novel treatments for orthopaedic conditions, including the rapid commercialisation of a unique adult stem cell technology aimed at the regeneration and repair of bone and cartilage. Our focus is to progress through clinical trials and international regulatory processes necessary to commercialise the technology in as short a timeframe as possible.

Mesoblast has the worldwide exclusive rights for a series of patents and technologies that have been developed over more than 10 years and which relate to the identification, extraction and culture of adult Mesenchymal Precursor Cells (MPCs). The Company has also acquired a substantial interest in Angioblast Systems Inc, an American company developing the platform MPC technology for the treatment of cardiovascular diseases, including repair and regeneration of blood vessels and heart muscle. Mesoblast and Angioblast are jointly funding and progressing the core technology.