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Mesoblast Ltd Raises AUD 170 Million

Tuesday, 5 Mar 2013 06:03pm EST 

Mesoblast Ltd announced that it has entered into agreements to raise AUD 170 million through an issue of new fully paid shares at AUD 6.30 per share. The shares will be placed to a select group of existing and new global institutional investors and are expected to be issued and funds received on or around March 13, 2013. The intended uses of these funds are for continued development of Mesoblast's Mesenchymal Precursor Cell (MPCs) technology platform, specifically: a Phase 3 clinical trial using MPCs for treatment of degenerative disease of the lumbar spine; new Phase 2 clinical trials to broaden the indications for intravenous delivery of MPCs in the treatment of systemic inflammatory conditions; optimization of MPC manufacturing processes and increased product inventory; and staff and overheads. 

Company Quote

0.16 +4.02%
24 Nov 2014