Mesoblast Receives A$29.6 Million Following Share Issue to Mallinckrodt
January 09 2017 - 6:00AM
Mesoblast Limited (Nasdaq:MESO) (ASX:MSB) today announced that
it has received A$29.6 million (US$21.7 million) following issuance
of 20.04 million shares to Mallinckrodt Pharmaceuticals. The shares
will be held in voluntary escrow for a period of 12 months.
Under the terms of the equity purchase agreement signed on
December 23, 2016, and in consideration for the share
purchase, Mallinckrodt has an exclusive period of up to nine
months to conclude commercial and development agreements for two of
Mesoblast's Tier 1 product candidates, MPC-06-ID in the treatment
or prevention of moderate/severe chronic low back pain due to disc
degeneration and MSC-100-IV in the treatment of acute graft versus
host disease, in all territories outside of Japan and China.
About MallinckrodtMallinckrodt is a global
business that develops, manufactures, markets and distributes
specialty pharmaceutical products and therapies, as well as nuclear
imaging products. Areas of focus include autoimmune and rare
diseases in specialty areas like neurology, rheumatology,
nephrology, pulmonology and ophthalmology; immunotherapy and
neonatal respiratory critical care therapies; analgesics and
hemostasis products; and central nervous system drugs. The
company's core strengths include the acquisition and management of
highly regulated raw materials and specialized chemistry,
formulation and manufacturing capabilities. The company's Specialty
Brands segment includes branded medicines and its Specialty
Generics segment includes specialty generic drugs, active
pharmaceutical ingredients and external manufacturing. To learn
more about Mallinckrodt, visit www.mallinckrodt.com
About Mesoblast Mesoblast Limited (Nasdaq:MESO)
(ASX:MSB) is a global leader in developing innovative cell-based
medicines. The Company has leveraged its proprietary technology
platform, which is based on specialized cells known as mesenchymal
lineage adult stem cells, to establish a broad portfolio of
late-stage product candidates. Mesoblast’s allogeneic,
‘off-the-shelf’ cell product candidates target advanced stages of
diseases with high, unmet medical needs including cardiovascular
diseases, immune-mediated and inflammatory disorders, orthopedic
disorders, and oncologic/hematologic conditions.
Forward-Looking StatementsThis press release
includes forward-looking statements that relate to future events or
our future financial performance and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance or achievements to differ
materially from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. We make such forward-looking statements pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and other federal securities laws. Forward-looking
statements should not be read as a guarantee of future performance
or results, and actual results may differ from the results
anticipated in these forward-looking statements, and the
differences may be material and adverse. You should read this press
release together with our risk factors, in our most recently filed
reports with the SEC or on our website. Uncertainties and risks
that may cause Mesoblast's actual results, performance or
achievements to be materially different from those which may be
expressed or implied by such statements, and accordingly, you
should not place undue reliance on these forward-looking
statements. We do not undertake any obligations to publicly update
or revise any forward-looking statements, whether as a result of
new information, future developments or otherwise.
For further information, please contact:
Julie Meldrum
Global Head, Corporate Communications
Mesoblast
T: +61 3 9639 6036
E: julie.meldrum@mesoblast.com
Schond Greenway
VP, Investor Relations
Mesoblast
T: +1 212 880 2060
E: schond.greenway@mesoblast.com
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