Mesoblast Limited
(ASX:MSB) says the regenerative stem cell product JR-031 developed by its Japanese partner has been recommended for approval in Japan.
JR-031 is a treatment for acute Graft vs Host disease in patients who have undergone a bone marrow transplant. Currently 50 per cent of the 30,000 bone marrow transplants performed globally develop GVHD with a mortality rate of up to 90 per cent.
The recommendation could see marketing approval granted in the near future.
Mesoblast is entitles to receive milestone payments on the treatment as well as royalties and other payments on pre-defined sales targets.
Mesoblast reported a net loss of $119.36 million for the 2015 financial year.
