Silviu Itescu The Legend, page-60

Actually, he's doing & has done (for MSB shareholders) so much more & is not beating his chest about it or even talking about it, unlike so many others. He's even doing this for those MSB 'holders' (I know it's unlikely, but it's possible) who complain about his achievements, and try to dismiss or derogate from them, damn them with faint praise e.g. as 'interesting', or excitedly point to his agreed remuneration as being 'unfair'. Unfair to whom, one wonders?

Ask yourself how many Managing Directors or CEOs of ASX- and NASDAQ-listed corporations do unpaid extra applied science research for their employer corporation. Yeah, unpaid.

Here's an extract from Dr Itescu's 2014 Employment Agreement with Mesoblast (ref: https://www.sec.gov/Archives/edgar/data/1345099/000119312515361222/d943277dex1019.htm ):




Ask yourself what the value of MSB's intellectual property assets are, as a proportion of the value of the company as a whole. Then ask yourself how that property value was created. Has it sunk in yet?

OK, then realise that Dr Silviu Itescu has freely given to MSB's shareholders an almost incredible portion of that MSB value, and has received almost nothing tangible in return. All of his skin is and remains in the MSB game.

For example, a search of AUSPAT database confirms that Dr Itescu has contributed to Mesoblast his inventorship rights in 50 patents and patent applications. Oh ho, you say, but they may not have been pursued - they may have lapsed over time & simply been used as a holding tactic by MSB - clever by CEO Itescu but not significant, surely.

So, here are the 37 patent applications that haven't lapsed, have been accepted or have been granted to date - recognise any?





The most recent of these is in 2021, the year just past. The picture is becoming clearer. Australia is a PCT member state & these applications can be exploited by MSB in all of them, including the US.

But how about in the biggest market for healthcare products in the world? Surely there's nothing that he's done yet for Mesoblast there, eh? Well, here's an extract from the USPTO granted patent database that shows very clearly, IMO, Dr Itescu's contribution of inventorship rights to the value of MSB's asset portfolio. Dr Itescu is named as inventor or co-inventor in all of these MSB patents:




These are granted patents that could be sold by MSB to the world this afternoon. As holders we'd all benefit immediately. And we'd lose so much IMO in the opportunity that lies just ahead.

We all need to cut the guy a break. Personally, I'd just like to meet him, shake his hand and commend his dedication and commitment. But he won't have time for that, unfortunately. He's working, you see.