Mesoblast and Celgene extend agreement

Company News

Mesoblast (ASX: MSB) has announced an agreement with Celgene to extend for six months the US-based company's right of first refusal with respect to Mesoblast’s mesenchymal lineage adult stem cell product candidates.

The companies announced the initial agreement in April.

Under the agreement, Celgene acquired 15.3 million shares in Mesoblast, representing a 4.5 per cent stake, and a six-month right of first refusal to its adult stem cell products in the treatment of acute graft versus host disease, certain oncologic diseases, inflammatory bowel diseases, and organ transplant rejection.

Mesoblast was founded in 2004 by its current chief executive, Silviu Itescui.

Its proprietary technology platform is based on specialised cells known as mesenchymal lineage adult stem cells. Mesoblast’s allogeneic or ‘off-the-shelf’ cell product candidates target significantly advanced stages of diseases where there are high unmet medical need, including cardiovascular conditions, orthopedic disorders, immunologic/inflammatory disorders and oncology/hematology conditions.