Mesoblast Limited (ASX:MSB) has been given the green light from the Singapore Health Sciences Authority to start the first phase trial of its off-the-shelf adult stem cell therapy for patients with proliferation of leaky blood vessels in their eyes, or neovascular age-related Macular Degeneration.
The condition accounts for about 90 per cent of all blindness in elderly people.
Mesoblat chief executive Silviu Itescu said the trial will lay the foundation for larger trials so it can target the emerging and very accessible large Asian healthcare markets.
Mesoblast reported a net profit of $90.6 million for the six months to June.
