Ann: Appendix 3B with prospectus, page-27

OK @travelightor how should a biopharma fund itself over the decade or so it usually takes for their products to get close to market?

If partners will not agree to your terms and you already have one product being used out in the market for aGVHD, with 280 plus children treated for aGVHD, outside of any trial. Distribution to those 23 treating institutions in the P3 trial has to be be in place. Remuneration to the supplier if close to what JCR get for Temcell from the Japanese national health service seems to be good, a nice income stream.

Would you just wilt at the knee and say ok, ya beat me?

Clearly the technology MSB has patented over the years is valued. Take TiGenix, Takeeda announced their intention to buy out TiGenix about 20 days after Mesoblast grants TiGenix an exclusive global patent license for the product TiGenix consider is now their strategic focus, Cx60, for the consideration of €20 million plus royalties.. TiGenix curtail most other development projects and focus on Cx60. I'd be curious to see if you think the timeline from the Tigenix news release page is purely coincidental;

"15 December 2017 - Mesoblast grants TiGenix an exclusive global patent license to use adipose-derived mesenchymal stem cells in the local treatment of fistulae

20 December 2017 - TiGenix confirms strategic focus on Cx601 and its adipose derived stem cell (eASC) platform

5 January 2018 - Takeda announces its intention to acquire TiGenix"

My take on your comment that;
"The real and only reason why this Kentgrove facility is about to be used by MSB is MSB has exhausted all other capital raising options and MSB is desperate for some quick cash to stay afloat."

Is that you are not party to the MSB board deliberations. How many other businesses out there are using technology patented by MSB for starters that have no license agreement. How quickly can Remestemcel-L be brought to market in the US for aGVHD for an income stream when it is already in use? Who are partner discussions underway with etc.

I agree with @madamswer, Kentgrove is now ready to use, and @col69, it is a lever too but also as @cosair points out the facility available is $60M up to $120M. As the sp rises so the potential incomes rise, if needed. And I agree with @stokdog too, The High Net Worths will have more of the action, at a discount.

I did take your advice from early in the thread, I read the whole Prospectus late on Friday. I see the Kentgrove facility as really useful, of minimal impact for returns generated, giving MSB the flexibility to achieve in many different ways, whether or not it is used.