My view, bare bones.How much does it cost, both in $ and years...

My view, bare bones.

How much does it cost, both in $ and years to take cellular medicine from P2 to P3, to BLA to commercialiisation. Short answer, more than a smaller clinical stage Biotech has. At least one had strings attached to it, milestone payments. Helps to have partner funding. At the time all were on the go. Partner is bought out, new "Partner" Teva pulls out. Funding less freely available.

Board pare back projects to 3 that it believes it can bring to market, some years later, very nearly there. Mesoblast is fairly unique in being able to bring that many projects to P3 stage on its' own. Gave up for a few years on capital raisings, savaged the SP each time. Went down the loans track, some tied to performance milestones. Maybe not entirely perfect but probably better outcomes, seems to be working

So the tier 2 projects sit there in stasis waiting for funding, from income. Then alongs comes COVID-19, death, disruption and the rest, and interesting possibilities see Post #: 43279966, to create an extra layer of discussion here on HC. The other 3 projects are still steaming along

The fact that Silviu was able to apparently create an NIH funded trial, independently run with minimal Mesoblast input out of thin air belies the connections that have been built over the years, and positions held by one other Board member.

Some of the connections would relate to the decade long remestemcel-L EAP, and the various clinical trials and the impressions they have made on clinicians. Others would be related to other interactions with the CTSN, INChoir and ICAHN in other trials going back a few years.