Mesoblast Limited (ASX:MSB) Completes A$260 Million Capital Raise
Capital Raise Details
Mesoblast Limited (ASX:MSB; Nasdaq:MESO) has successfully completed a global private placement, raising A$260 million (US$160 million) at A$2.50 per share. The funds will primarily support the US commercial launch of Ryoncil® (remestemcel-L) for treating steroid-refractory acute graft-versus-host disease (SR-aGvHD) in paediatric patients, as well as the acceleration of a Phase 3 clinical study in chronic low back pain.
Investment in Growth
The capital will also finance the expansion of commercial manufacturing operations to meet product demand, alongside working capital and general corporate purposes. Chief Executive Dr. Silviu Itescu expressed gratitude for shareholder support, stating, “We appreciate the strong support from our shareholders as we scale-up production and provide to hospitals Ryoncil®, the first and only FDA-approved mesenchymal stromal cell therapeutic, to treat children with life-threatening SR-aGvHD.”
About Ryoncil
Ryoncil® is a significant advancement in cellular medicine, representing the first FDA-approved mesenchymal stromal cell therapy for SR-aGvHD in children aged two months and older. Mesoblast aims to develop additional cell therapies targeting various inflammatory diseases and has established commercial partnerships in key markets including Japan, Europe, and China.
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