Mesoblast Shares Soars Up By Over 12% On Novartis Deal

  • November 20, 2020 12:21 PM AEDT
  • Team Kalkine

Mesoblast Limited (ASX:MSB) has signed an exclusive worldwide license and collaboration deal with Novartis for the development, manufacture and commercialization of mesenchymal stromal cell (MSC) product remestemcel-L of Mesoblast. The initial focus would be given on the development of the treatment of acute respiratory distress syndrome, plus that related with COVID-19. 

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Novartis will make an upfront payment of US$50 million involving US$25 million in equity.

AT AEDT 11:34 AM, MSB shares were trading at A$3.700, up 13.149% from the previous close.


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