MESOBLAST ACQUIRES OSIRIS' CULTURE EXPANDED STEM CELL THERAPEUTIC BUSINESS (press release)
MELBOURNE, Australia and NEW YORK, Oct. 10, 2013 (GLOBE NEWSWIRE) -- Regenerative medicine company Mesoblast Limited (ASX:MSB) (USOTC:MBLTY) today announced the acquisition of the entire culture-expanded mesenchymal stem cell (MSC) business of Osiris Therapeutics (Nasdaq:OSIR) by the Mesoblast Group.
"The many commercial and strategic benefits of this transaction firm Mesoblast's leadership position in the global regenerative medicine industry," said Mesoblast Chief Executive Officer Professor Silviu Itescu.
The benefits derived from acquiring the approved and late-phase MSC products include:
near term market launch of a mesenchymal lineage product in major jurisdictions;
broadened late-phase clinical programs in strategic areas of focus; and
leveraged roll out of infrastructure, skills and expertise needed to commercialize Mesenchymal Precursor Cell (MPC) products.
"Importantly, in 2014 we plan to have active products in Phase 3 clinical trials in all four core major therapeutic areas of focus: cardiovascular medicine (congestive heart failure), inflammatory/immune diseases (Crohn's diseas...
