Cellular medicine company, Mesoblast (ASX:MSB) has partnered with Cartherics to develop an off the shelf treatment for solid cancer.
The company says off the shelf CAR-T therapies have the potential to dramatically reduce treatment costs.
The partnership could open up the very effective treatment to millions of cancer patients across the world.
Initial targets are relapsed ovarian and gastric cancers.
The program will be funded by $12.6 million from collorators in the Australian Governments Cooperative Research Program.
Shares in Mesoblast (ASX:MSB) are trading 3.41 per cent higher to $1.52.