Ann: Update on Global Heart Failure Program-MSB.AX, page-54

Of the announcement, I highlighted three items that are really good.  Equity finance will cause a bit of pain but I guess that is a quick way to fund the technology -  the question really is by what price and dilution? Japan pathway is the bit that is promising.

Unfortunately, 18 months to complete phase 3 is too long for most hotcopperites people as most has an investment period of 7 days. 30 days is normally considered long-term.

MESOBLAST PROVIDES UPDATE ON GLOBAL HEART FAILURE PROGRAM
Key points:

• Mesoblast regains worldwide rights to cardiovascular field for its cell therapy platform
• Lead product candidate in cardiovascular portfolio is MPC-150-IM for heart failure, with multibillion dollar blockbuster potential and no financial consideration to Teva Pharmaceutical Industries Ltd
• Independent Data Monitoring Committee recommended continuation of the 600-patient heart failure trial without modification after clinical data review of first 175 patients
• Mesoblast aims to complete the Phase 3 heart failure trial, almost 40% recruited, within eighteen months
• To meet the program’s remaining funding requirements, Mesoblast has been offered an equity finance facility
• FDA approval has been obtained to incorporate into the heart failure program a widely-used second catheter delivery system which is likely to result in accelerated recruitment and provide a commercial distribution channel
• Japan conditional approval pathway provides potential early revenue opportunity
• Mesoblast now has unencumbered rights to partner with a leading cardiovascular company with a commitment to heart failure product commercialization