Total votes: 2

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.

Cardiovascular stem cell therapy: The Company holds a 38.4% interest in Angioblast Systems, Inc. (Angioblast), a company developing 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. Interim results of the ongoing phase two trial of Revascor were presented at the annual conference of the American Heart Association currently underway in Orlando, Florida. The presenter, Dr Nabil Dib associate professor of medicine and director of cell therapy, University of California, San Diego and director of cardiovascular research, Mercy Gilbert and Chandler Medical Centers, Phoenix Arizona said at six months a single dose of Revascor was accompanied by a 22% mean increase in EF whereas controls had an 18% mean decrease in EF over the same period.

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