Mesoblast raises $175M for PhIII stem cell study

Mesoblast CEO Silviu Itescu

Australia's regenerative medicines company Mesoblast (ASX: MSB) reports that it has raised $175 million dollars to back a late-stage study of its stem cell therapy for degenerative spinal discs. The shares were sold at a 2.2% discount in a private placement. "Our strengthened financial position ensures that we can drive our independent programs to commercial outcomes, particularly in the areas of degenerative disease of the lumbar spine and in the treatment of inflammatory and immune-mediated conditions," says CEO Silviu Itescu. Release

Suggested Articles

CNS Pharma says berubicin is the first anthracycline drug to cross the blood-brain barrier and could transform treatment of the highly invasive brain tumor.

Grid Therapeutics is planning to start trials of its lead cancer immunotherapy GT103 next year after raising $5 million in second-round financing.

The IPO comes as the Flagship startup prepares to test its lead inflammatory disease and anticancer microbial strains in humans.