It's not a viable competitor for Remestemcel-L in my opinion, not even close. Patient outcomes may be similar (great for the patients!), but proving efficacy and safety to the regulator does not happen overnight.
Mesoblast is so far ahead in terms of regulatory trials, efficacy and safety data, it simply doesn't compare. This stuff takes years of trials, legal, regulatory and IP matters.
SI recently stated that it takes nearly 15 years to bring biotech from credible science to regulatory approval; I don't doubt it.
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