Biotech company Mesoblast (ASX:MSB) today announced that the International Center for Health Outcomes and Innovation Research have entered into a Memorandum of Understanding (MOU) for a clinical trial using Mesoblast’s product candidate Revascor (MPC-150-IM).
Revascor is for the reduction of gastrointestinal (GI) bleeding in end-stage heart failure patients implanted with a left ventricular assist device (LVAD).
Mesoblast is a global leader in cellular medicines for inflammatory diseases.
In a 30-patient pilot trial, Revascor showed a 70 per cent reduction in GI bleeding events.
Mesoblast plans to meet with the FDA in the upcoming quarter to discuss an approval pathway for Revascor under its existing Regenerative Medicine Advanced Therapy RMAT designation.
Shares in Mesoblast (ASX:MSB) closed -1.06 per cent lower to $1.40 yesterday.