Total votes: 3

Summary

Mesoblast Limited (Mesoblast) is a biotechnology company committed to the development of adult stem cell products targeting a range of bone, cartilage and musculoskeletal conditions. In late 2010 Mesoblast acquired the rest of Angioblast making the deal to buy Angioblast at $240 million.

Finance 

Jan 2012 Mesoblast reported  cash reserves of $260M.
Half year revenue of approx. $18.7M
6 month loss for period to Jan 2012 approx. $44.1

Cardiovascular stem cell therapy: The Company is developing out the same platform technology for the treatment of cardiovascular diseases, including repair and regeneration of blood vessels and heart muscle. Mesoblast is developing an allogeneic or off-the-shelf cell product, called NeoFuse, to generate bony spinal fusion.

Revascor, their proprietary "off the shelf" adult stem cell product for heart failure, have continued to show sustained improvement in heart muscle function at six months. 

- Major Adverse Cardiac Events (MACE) significantly reduced in MPC‐treated patients over mean 22 month follow‐up (p=0.036). MACE is composite of mortality/heart attacks/revascularization

- MACE risk over time reduced by 78% in MPC‐treated patients vs controls (p=0.011), with 60‐90% risk reduction at every MPC dose

- cardiac mortality significantly reduced in MPC‐treated patients compared with controls overmean 22 month follow‐up (2% vs 20%, p=0.02)

- highest dose of Revascor™ completely prevented any deaths or episodes of heart failure hospitalization over 18 months of follow‐up

- highest dose showed evidence of remodeling (reduction in heart volumes) and improvement in functional capacity (increased walking distance), which are key parameters in congestive heart failure

Based on these results, Teva and Mesoblast are moving forward with Phase 3 trial of high dose Revascor™ in heart failure patients

Allogeneic MPCs For Treatment Of Type 2 Diabetes  - anther program with preliminary data

Stem cells for back/disc problems: In August 2009, the United States Food and Drug Administration cleared a Phase II clinical trial of its allogeneic adult stem cells for use in minimally invasive lumbar spinal fusion surgery. The 24-patient trial, based at multiple United States sites, is comparing the effectiveness and safety of two low doses, NeoFuse with autograft in minimally invasive surgery for fusion of the lumbar spine.

Teva strategic alliance

- Teva has exclusive worldwide commercialization rights to selected cardiovascular and neurologic indications, holds 19.99% stake in Mesoblast

- Teva responsible for funding Phase 2b and Phase 3 clinical development

- Mesoblast eligible to receive up to US$1.7 billion in milestone payments, plus revenue split

- Mesoblast retains all manufacturing rights

- Mesoblast cash balance of US$260 million to fund other major indications including

     - type 2 diabetes

     - inflammatory diseases of various tissues (eg lungs) 

     - immunologic conditions (eg rheumatoid arthritis)

     - ophthalmic indications

     - orthopedic cartilage and bone conditions