Mesoblast Limited
(ASX:MSB) has announced it has received $6.2 million from the Australian Government.
The funding is for activities conducted in the 2015 financial year, and was provided under the Government’s R&D Tax Incentive Program.
Mesoblast anticipates it will receive government funds for ongoing R&D activities undertaken in FY16.
Mesoblast announced to the market in April of this year that its MRC product was showing improvements in pain, function and cartilage structure for patients with post-traumatic knee injuries.
Mesoblast reported a net loss of $48.6 million at 31 December 2015.
