Mesoblast Limited (ASX: MSB) has today announced that Chinese pharmaceutical company Tasly Pharmaceutical Group has got China’s government approval of overseas direct investment to carry forward investment agreement as well as a development and collaboration agreement with Mesoblast. This transaction requires Mesoblast to commercialize cell therapies for cardiovascular diseases in China for total consideration of US$40 million.
After receiving all the regulatory approvals if the deal goes through, Mesoblast will receive US$20 million as upfront technology access fee and US$20 million for equity in Mesoblast purchased by Tasly at AUD$1.86 per share.
Mesoblast Limited was trading at $1.555 with daily price change of -0.321% on 29 August 2018 (6: 58 PM AEST).
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