Health & Biotech
Melbourne biotech Mesoblast (ASX:MSB) is attempting to commercialise a stem cell treatment known as remestemcel-L for conditions such as acute graft versus host disease, advanced heart failure and chronic lower back pain due to degenerative disc disease. Mesoblast acquired remestemcel-L from US-based Osiris Therapeutics in 2013.
Mesoblast’s proprietary process selects precursors and stem cells from the bone marrow of healthy adults, creating a master cell bank. This cell bank is then expanded into thousands of doses for off-the-shelf use, without the need for tissue matching.
Mesoblast debuted on the ASX in 2004 and reached a peak valuation of $2.5 billion in 2011. The company dual listed on the Nasdaq in November 2015, accompanied by a $US63m capital raising.
The company was dealt a blow in October 2020 when the US Food and Drug Administration declined to approve remestemcel-L for the treatment of acute graft versus host disease in children, instead asking for more data. Mesoblast is expected to dispute the FDA’s decision.
Mesoblast licensed remestemcel-L to Swiss pharmaceutical giant Novartis in November 2020 for indications other than graft versus host disease, a devastating complication from bone marrow transplants.
RELATED STOCKHEAD STORIES
Escrow Watch
Escrow Watch: These are the companies about to drop stock into the ASX
News
Tl;dr? Here are your Budget cliff notes on what’s in store for ASX small caps
Health & Biotech
Health: Neurotech fires a strategic adviser after claims he’s a dud, shares fall 17pc
Health & Biotech
Stem cell biotech companies welcome $150 million in decade-long funding
News
Lunchtime ASX small cap wrap: who’s taking their first wickets this year
Health & Biotech
Mesoblast spruiks “blockbuster” assets to claw back 2018 losses
Health & Biotech
8 biotechs that either flew or sunk on clinical trial results in 2018
Health & Biotech