Mesoblast (ASX: MSB) has received the Frost & Sullivan Asia Pacific 2016 Cell Therapy Company of the Year Award.
The Frost & Sullivan Awards recognise companies that have demonstrated excellence in their industry.
According to Rhenu Bhuller, senior vice president and partner, Transformational Health, Frost & Sullivan, Mesoblast’s strong overall performance and its achievements throughout the last financial year had earned the 2016 award.
“This award recognises Mesoblast's global achievements and its focus on clinical development of innovative cellular medicines in under-served therapy areas such as cardiovascular and degenerative diseases," she said.
"Cell therapy will revolutionise how patients will be medicated in the future in areas with high unmet need such as cardiovascular and oncology among others. An increasing number of late-stage hybrid therapies such as cell-gene or stem cell-gene therapies are promising and can hit the mainstream market, which Frost & Sullivan projects to reach US$10 billion by 2020."
The selection of this award was based on interviews, primary market analysis and secondary research conducted by Frost & Sullivan's industry analyst team.
Key criteria used were visionary innovation and performance; addressing unmet needs; visionary scenarios through mega trends; implementation of best practices; blue ocean strategy; impact; price-performance value; and, brand equity.
The Award is made to the company that received the number one industry rank.
The Mesoblast Group has previously received the 2009 Frost & Sullivan North America Emerging Company Award in the Soft Tissue Repair Market, and the 2008 Frost & Sullivan United States Stem Cell Market Technology Innovation of the Year.