Cell Therapy News/Articles, page-162

*They should have mentioned the hotcopper board

Mesoblast US$75mln financing deal gets a lot of airplay

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13:45 07 Mar 2018
The regenerative medicines specialist will use the proceeds from the four-year credit facility to fund the commercialisation of its graft versus host disease treatment, which was successful in a phase III clinical trial.
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Mesoblast, a specialist in cell-based medicines, has three programs in the final phase of clinical studies

One of the most discussed companies on the bulletin boards currently is Mesoblast Limited (LON:MSB), which has just completed a US$75mln, non-dilutive debt funding deal.

The regenerative medicines specialist will use the proceeds from the four-year credit facility to fund the commercialisation of its graft versus host disease treatment, which was successful in a phase III clinical trial.

The money will also be used to bankroll late-stage product candidates for chronic heart failure and chronic low back pain.
Cell-based medicine

Mesoblast, a specialist in cell-based medicines, has three programs in the final phase of clinical studies. The company drew the first, US$35mln tranche of the facility, provided by Hercules Capital, on closing.  
A further US$15mln can be accessed before the fourth quarter of the current year. The coupon on the debt is 9.45%.

Chief executive, Dr Silviu Itescu, said: “This facility demonstrates the confidence Hercules Capital has in our compelling investment proposition.