Mesoblast Limited (ASX: MSB) has entered into strategic partnership with GrÃ¼nenthal. This partnership would see both companies developing & commercialising MPC-06-ID â a phase III candidate for the treatment of chronic low back pain.
Both companies would collaborate on the study design for confirmatory Phase III trial in Europe, and the results would underpin the development for regulatory requirements in the US and Europe. Mesoblast would receive up to US$150 million prior to product launch, and additional commercialisation milestone payments.
By 12:21 PM, MSB was trading at A$1.74, up by 19.59% from the previous close.