No pain, big gain: partnership sends Mesoblast shares soaring

Original article by Damon Kitney
The Australian – Page: 21 : 11-Sep-19

Shares in Melbourne-based stem cell developer Mesoblast rose by over 22 per cent on 10 September after it announced details of a strategic partnership with German drug company Grunenthal. The partnership will see the two companies work to develop and commercialise a cell therapy to threat severe lower back pain, with Mesoblast receiving up to $US150 million ($218.56 million) in upfront and milestone payments prior to the launch of any product developed under the partnership. Billionaire Alex Waislitz, who is one of Mesoblast’s investors, suggests the global potential for a non-opiate product for treating lower back pain could be worth "many billions of dollars" each year.

CORPORATES
MESOBLAST LIMITED – ASX MSB, GRUNENTHAL GMBH

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