Mesoblast Limited (ASX: MSB) completed an international private placement, raising AU$260 million at AU$2.50 per share. The placement, supported primarily by existing US, UK, and Australian shareholders, will fund key initiatives, including the US commercial launch of Ryoncil for pediatric steroid-refractory acute graft-versus-host disease.
The funds will also accelerate the second Phase 3 clinical trial for inflammatory chronic low back pain, support the expansion of commercial manufacturing to meet product demand and bolster working capital for corporate operations. Dr Silviu Itescu, Mesoblast’s Chief Executive, expressed gratitude to shareholders, emphasizing the importance of scaling production and delivering Ryoncil, the first FDA-approved mesenchymal stromal cell therapy, to children battling life-threatening SR-aGvHD. This funding marks a critical step in advancing Mesoblast’s transformative therapies globally.
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