Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Mesoblast Completes A$170m Private Placement

Published: Tuesday, March 19, 2013
Last Updated: Tuesday, March 19, 2013
Bookmark and Share
Company now has cash reserves of approximately A$332 million.

Mesoblast Limited has announced that it has completed a private placement of its shares, raising A$170 million.

Under the placement, 26,970,979 fully paid ordinary shares were issued at A$6.30 per share, a discount of 2.2 per cent to the closing price of the company’s shares on 1 March 2013.

The total shares on issue have now increased by 9.4 per cent to 314,811,301.

The shares were placed to a select group of existing strategic investors and new United States and global institutional funds, including M & G Investment Management and Capital Research.

As a result of the placement, Mesoblast’s free float has increased by approximately 16.5 per cent, which may positively impact the Company’s weighting within the S&P/ASX 200 index.

In determining Mesoblast’s free float under S&P/ASX methodology, strategic shareholdings of Mesoblast alliance partner Teva Pharmaceutical Industries Ltd and Mesoblast Chief Executive Silviu Itescu, both of which remain unchanged post the placement, are not included.

The intended uses of these funds are for continued development of Mesoblast’s proprietary 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
• staff and overheads.

Professor Itescu said: “Our strengthened financial position ensures that we can drive our independent programs to commercial outcomes, particularly in the areas of degenerative disease of the lumbar spine and in the treatment of inflammatory and immune-mediated conditions.”


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More Than 3,600+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Pharmaceutical Executive Joins Mesoblast as Chief Financial Officer
Appointment of Mr Paul Hodgkinson as Company’s Chief Financial Officer.
Tuesday, August 26, 2014
FDA Agreement on Mesoblast’s Use of Singapore Manufacturing Facility for MPCs Clinical Trial Production
New facility will support product delineation strategies, increase geographical reach, and reduce risk of single site reliance.
Tuesday, May 21, 2013
Mesoblast Receives FDA Clearance for Phase 2 Trial of MPCs in Active RA Patients
In addition, a second Phase 2 trial of MPCs as a first-line biologic treatment for active RA is planned to commence in Europe in 1H 2013.
Thursday, May 16, 2013
Mesoblast Reports Half-Year 2013 Financial Results
Provides strategic update on key areas of product development.
Tuesday, February 12, 2013
Key Mesenchymal Precursor Cell Patents Granted in United States and China
New granted claims confer exclusive, long-term commercial rights in the world's largest established and emerging healthcare markets.
Friday, February 08, 2013
New Teva Representative Joins Mesoblast Board Of Directors
Appointment of Dr Ben-Zion Weiner as a non-executive Director of Mesoblast.
Monday, October 22, 2012
Mesoblast Provides Corporate Strategy for Product Development to Treat Neurologic Conditions
Exclusive commercial rights to develop neuroregenerative dental pulp stem cells.
Tuesday, June 12, 2012
Mesoblast Receives FDA Clearance for Phase 2 Clinical Trial of Proprietary Stem Cell Therapy in Type 2 Diabetes
Trial will be randomized, placebo-controlled to evaluate safety and effectiveness over 3 months of a single intravenous injection of one of three progressively increasing MPC doses in 60 Type 2 diabetes patients with elevated blood glucose levels.
Tuesday, May 08, 2012
Intervertebral Disc Repair Phase 2 Trial Update
Rapid patient accrual, enrolment reaches half way mark positive preclinical study results published in premier neurosurgical journal.
Wednesday, April 18, 2012
Mesoblast Half-Year Results
Strong financial position underpins company’s ability to deliver in increased value from broadened range of stem cell therapeutics.
Tuesday, February 28, 2012
Half Year Results - Mesoblast Posts Strong Cash Balance
Company reports cash reserves of $241 million for the 2012 financial half year reporting period.
Tuesday, February 28, 2012
Mesoblast Presented Positive Phase 2 Results at AHA
Revascor™ anticipated to progress to Phase 3 trial in first half of 2012.
Friday, November 18, 2011
Mesoblast Cleared to Begin First Phase 2 Clinical Trial for Eye Diseases
Mesoblast receives regulatory clearance to begin Phase 2 trial for wet Age-related Macular Degeneration.
Thursday, October 27, 2011
Mesoblast Receives Clearance to Begin First European Trial of Allogeneic or ‘Off-The-Shelf’ Stem Cell Treatment for Heart Attacks
Company receives clearance to begin Phase 2 clinical trial for Revascor™ in conjunction with angioplasty and stent procedures.
Tuesday, September 06, 2011
Single Dose of Proprietary Adult Stem Cells Regenerates Damaged Pancreas
Stem cell treatment induced two-fold increase in total numbers of pancreatic islets, and increase in insulin-producing beta cells.
Monday, December 21, 2009
Scientific News
RNAi Screening Trends
Understand current trends and learn which application areas are expected to gain in popularity over the next few years.
Researchers Find U.S. Breast Milk is Glyphosate Free
Washington State University scientists have found that glyphosate, the main ingredient in the herbicide Roundup, does not accumulate in mother’s breast milk.
Peering into the Vapors
Research suggests that e-cigarettes are much less harmful than previous studies have indicated.
New Technique for Mining Health-conferring Soy Compounds
A new procedure devised by U.S. Department of Agriculture (USDA) scientists to extract lunasin from soybean seeds could expedite further studies of this peptide for its cancer-fighting potential and other health benefits.
Long-sought Discovery Fills in Missing Details of Cell 'Switchboard'
A biomedical breakthrough reveals never-before-seen details of the human body’s cellular switchboard that regulates sensory and hormonal responses.
Tracking Breast Cancer Before it Grows
A team of scientists led by University of Saskatchewan researcher Saroj Kumar is using cutting-edge Canadian Light Source techniques to screen and treat breast cancer at its earliest changes.
Zebrafish Reveal Drugs that may Improve Bone Marrow Transplant
Compounds boost stem cell engraftment; could allow more matches for patients with cancer and blood diseases.
DNA Damage Seen in Patients Undergoing CT Scanning
Along with the burgeoning use of advanced medical imaging tests over the past decade have come rising public health concerns about possible links between low-dose radiation and cancer.
The Light of Fireflies for Medical Diagnostics
EPFL scientists have exploited the light of fireflies in a new method that detects biological molecules without the need for complex devices and high costs.
Rice Disease-Resistance Discovery Closes the Loop for Scientific Integrity
Researchers reveal how disease resistant rice detects and responds to bacterial infections.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,600+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!