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MSB Mesoblast Limited

2.44
0.04 (1.67%)
22 Dec 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Mesoblast Limited ASX:MSB Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.04 1.67% 2.44 2.43 2.45 2.47 2.41 2.41 1,193,376 23:17:53

Celgene Buys Mesoblast Stake

13/04/2015 12:46am

Dow Jones News


Mesoblast (ASX:MSB)
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   By Robb M. Stewart 
 

MELBOURNE, Australia--U.S. biopharmaceutical company Celgene Corp. (CELG) agreed to buy a stake in Australian regenerative-medicine specialist Mesoblast Ltd. (MSB.AU) in a deal that also secures potential access to prospective treatments in a range of disease fields.

Celgene will buy 15.3 million shares in Mesoblast for 58.5 million Australian dollars (US$44.9 million), equal to A$3.82 a share, Mesoblast said Monday.

Celgene also will have a six-month right of first refusal to Mesoblast's mesenchymal lineage adult-stem-cell product candidates for the prevention and treatment of acute graft versus host disease, certain oncologic diseases, inflammatory bowel diseases, and organ transplant rejection.

Celgene, which focuses on the development of therapies for the treatment of cancer and immune-inflammatory related diseases, said the deal will bolster its pipeline of cellular and regenerative medicines.

Write to Robb M. Stewart at robb.stewart@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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