Mesoblast join with Tasly for China deal

Company News

by Rachael Jones

Regenerative medicine comapny Mesoblast (ASX:MSB) today announced completion of the transaction with Tasly Pharmaceutical Group to establish a strategic partnership in China for Mesoblast’s product candidates for heart failure.

Mesoblast has received US$40 million from Tasly, comprising an upfront technology access fee of US$20 million and an equity purchase of US$20 million.

As consideration, Tasly has received exclusive rights and will fund all development, manufacturing and commercialization activities in China for the drug candidate for the treatment and prevention of chronic heart failure and a heart attack prevention drug.

Mesoblast and Tasly will establish a joint steering committee, with equal representation from both parties, to oversee, review and co-ordinate the development, manufacturing and commercialization activities for the cardiovascular product candidates in China.

Shares in Mesoblast (ASX:MSB) are 2.77 per cent higher at $2.04.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.