Leader in cellular medicines for inflammatory diseases, Mesoblast (ASX:MSB) has successfully completed a $75 million capital raising via a placement to existing and new Australian and global institutional investors.
This placement will result in the issue of 37.5 million new fully-paid ordinary shares at a price of $2.00 per share.
The proceeds will be used to build a United States sales force in preparation for the potential commercial launch of remestemcel-L in the treatment of pediatric steroid-refractory acute graft versus host disease in the US.
They will also complete Phase 3 trials for chronic low back pain and advanced heart failure.
Shares in Mesoblast (ASX:MSB) are trading 7.7 per cent lower at at $1.98.