Mesoblast Limited (ASX:MSB) has received $5.05 million for stem cell pipeline development from the Australian Government.
The funds were received under the Australian Government’s Research and Development Tax Incentive Program during the 2013 financial year.
The clinical development company says it also anticipates receiving further reimbursement of funds used for pipeline development during the 2014 financial year.
Mesoblast has advised its lead mesenchymal cell lineage products are in late-phase development for the treatment of acute graft versus disease, congestive heart failure, intervertebral disc disease and crohn’s disease.
Mesoblast reported a net loss of $30.9 million in the first half of the 2014 financial year.
