Mesoblast Enters Into Strategic Cardiovascular Alliance for China With Tasly Pharmaceutical Group
Mesoblast Limited - American Depositary Shares (MESO)
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Source: GlobeNewswire
NEW YORK and MELBOURNE, Australia, July 17, 2018 (GLOBE NEWSWIRE) -- Mesoblast Limited (Nasdaq:MESO) (ASX:MSB) today announced that it has entered into a strategic alliance with one of China’s largest pharmaceutical companies, Tasly Pharmaceutical Group (SHA: 600535; Tasly), for the development, manufacture and commercialization in China of Mesoblast’s allogeneic mesenchymal precursor cell (MPC) product candidates MPC-150-IM for the treatment or prevention of chronic heart failure and MPC-25-IC for the treatment or prevention of acute myocardial infarction. Key commercial terms of the strategic alliance are as follows: Tasly will receive exclusive rights and will fund all development, manufacturing and commercialization activities in China for MPC-150-IM and MPC-25-IC.Mesoblast will receive US$40 million (AUD$54 million) on closing, comprising a US$20 million upfront technology access fee and US$20 million in an equity purchase in Mesoblast Limited
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