Novartis Pays $50m Upfront Cash for License and Stock in Mesoblast to Access Mesenchymal Stromal Cells Regenerative Therapy Platform

Novartis Pays $50m Upfront Cash for License and Stock in Mesoblast to Access Mesenchymal Stromal Cells Regenerative Therapy Platform

Novartis recently inked an exclusive worldwide license and collaboration agreement with regenerative therapy venture Mesoblast to develop, commercialize and manufacture remestemcel-L for the treatment of acute respiratory distress syndrome (ARDS), including that associated with COVID-19. Novartis put up $50 million in upfront cash payment and equity/share subscription, plus performance-based milestones and royalties for access to a stem-cell therapy based platform with worldwide rights to range of potential indications. As the COVID-19 pandemic intensifies in this second wave worldwide, Novartis now positions to capitalize on a novel therapy that may address an area of unmet need, with an approximately 40% mortality rate with the current standard of care, which includes prolonged ICU treatment and mechanical ventilation. Remestemcel-L uses mesenchymal stromal cells (MSCs), a cell-based platform technology, to treat this deadly condition and improve outcomes. The regenerative cell-based therapy is currently under investigation in COVID-19 related ARDS in an ongoing 300-patient Phase 3 clinical trial. Novartis now intends to initiate a Phase 3 clinical trial in non-COVID-19 related ...

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