Mesoblast draws down $15m of capital to accelerate product commercialisation programs

Company News

by Anna Napoli

Mesoblast (ASX:MSB) has today announced it has drawn down a further $15 million from its US$75 million four-year credit facility with Hercules Capital.

The company says the funds will be used primarily to ramp up Mesoblast's product commercialisation programs.

The additional capital was made available after the success of Mesoblast's product candidate Revascor in its treatment of gastrointestinal bleeding.

Mesoblast says it plans to meet with the US FDA during the first half of 2019 to discuss a potential approval pathway for Revascor.

Shares in Mesoblast (ASX:MSB) are trading 1.87 per cent lower at $1.31.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.