MSB Trading 2020 - a new dawn, page-2095

6151.. Thank you for sharing and appreciated.

Regarding REVASCOR and Cardiologists being "Old School" , I had a similar query ... up until the Feb 2020 Meso QRT1 earnings call and the question asked by Jason Kolbert (Dawson James).

The question by Jason was effectively about "old school" Cardiologists

This was the Prof's response and IMO "old school' Cardiologists can continue to practice their profession .. and hopefully with a much better outcome for patients which embracing new medicine.

.." I think you asked about mode of delivery and what's interesting about the product is that we've now accumulated a large body of data through Phase II and Phase III of how the sales perform in advanced and end-stage heart failure patients delivered by catheter, delivered by needle in open-heart surgery for example and we're seeing very consistent results irrespective of the mode of delivery. I think what the data hopefully will show as we unblind the data as we continue to accumulate data is a consistent biologic effect of the cell product in the most severe of patients irrespective of the mode of delivery, irrespective whether it's catheter based or surgically delivered"

• You may want to share this with Jeffery.
• Here is the transcript and extract below.

All the best,
Anjo.


https://www.********/earnings/call-transcripts/2020/02/27/mesoblast-limited-meso-q1-2020-earnings-call-trans.aspx

Jason Howard Kolbert -- Dawson James Securities, Inc. -- Analyst

Two questions. One has to do with manufacturing methodology that you inherited versus what you're doing today for Ryoncil?

And the other question has to do with the current pivotal trial in heart failure. If there was any, I'd like to just ask you to touch on the delivery of the cells and whether if there is anything you could change in the design of that trial, what would be a change when you, let's say run a confirmatory trial? Thank you and congratulations on all the progress.

Silviu Itescu -- Chief Executive Officer & Managing Director

Thank you, Jason. Those are key questions. The first one was about manufacturing for Ryoncil. And we have obviously spent a lot of resources in the last three years or so in terms of bringing manufacturing of Ryoncil to a point where it's state-of-the-art where it's optimized, where we can demonstrates high consistency, reproducibility of dosing well-characterized product etc. And I think the Phase III trial demonstrates the product is very consistent and reproducible and I think those data before the FDA as we speak. We have also invested in next generation scalability, xeno-free media for example, bioreactor technologies and as the product is hopefully approved, launched and adopted as we expand its potential uses using evidence based clinical trials and outcomes, we have in place manufacturing capabilities that will meet the commercial demand of the product as well as substantially reduce the cost of goods. So we are very pleased and confident in our manufacturing capabilities.

Regarding Revascor and the heart failure trial, Phase III trial. I think you asked about mode of delivery and what's interesting about the product is that we've now accumulated a large body of data through Phase II and Phase III of how the sales perform in advanced and end-stage heart failure patients delivered by catheter, delivered by needle in open-heart surgery for example and we're seeing very consistent results irrespective of the mode of delivery. I think what the data hopefully will show as we unblind the data as we continue to accumulate data is a consistent biologic effect of the cell product in the most severe of patients irrespective of the mode of delivery, irrespective whether it's catheter based or surgically delivered. So hopefully that addresses.

Jason Howard Kolbert -- Dawson James Securities, Inc. -- Analyst

Yeah. I mean those are great answers because one, it sounds like Ryoncil as a completely new product, it would be really interesting to understand what differentiates it versus the process by which Revascor is made. I understand that's outside the scope of this call. And on Revascor, if what you're saying is that the variable associated with delivery is not as big as I had believed and other people had believed it could be, then that could -- it means the potential to open-up a completely new paradigm here exists and I don't think people understand the impact to heart failure or because for the first time as I understand it, you're treating the underlying cause instead of the symptom.

Silviu Itescu -- Chief Executive Officer & Managing Director

I think that's right. Jason, I appreciate your comments on this. In fact, we see the continuum of heart failure from Class III to Class IV to end-stage and the treatment today of patients in that category and it's probably 15% of the epidemic in patients with low ejection fraction. The treatment of those patients is really sub-optimal and the high rates of mortality continue to play that patient population and we see our product candidate as offering potential benefits irrespective of how it's delivered and that opens up the potential to treat patients with advanced heart failure who, for example require surgical procedures such as coronary artery bypass surgery, as well as outpatient procedures using catheters. So yes, I agree with it. There is a continuum and we are targeting that whole continuum.

Jason Howard Kolbert -- Dawson James Securities, Inc. -- Analyst

Thank you.