NEW YORK and MELBOURNE, Australia, Aug. 25, 2014 (GLOBE NEWSWIRE) -- Regenerative medicine company Mesoblast Limited (ASX: MSB; USOTC: MBLTY) today reported 2014 financial results and unveiled its strategy to prioritize and bring to market clinically differentiated products based on its proprietary Mesenchymal Precursor or Stem Cell (MPC or MSC) technologies.
The Company has created a product-focused organizational structure and will preferentially allocate resources to those products with the greatest mid-term revenue potential.
2014 Financial Year Highlights
The corporate strategy incorporates five imperatives:
In anticipation of mid-term product revenues, Mesoblast has built an experienced, product focused team for late-phase clinical execution and market launch.
Mesoblast has a portfolio of cell-based regenerative medicine products, with five in Phase 3 or Phase 3-ready. The portfolio has been organized into Tier 1, Tier 2, and pipeline products based on specific criteria.
Tier 1 products have mid-term revenue potential, and include:
1. MSC-100-IV for steroid-refractory Graft Versus Host Disease (GVHD)
2. MPC-06-ID for Chronic Discogenic Lower Back Pain (CDLBP)
3. MPC-150-IM for congestive heart failure
Tier 2 products are in Phase 2 or 3, have committed funding through to the next value inflection point, and will advance into Tier 1 on merit of data, market opportunity or partnering capability. These include:
Pipeline: These products are in early clinical or preclinical development, and include MPCs for neurological diseases, lung diseases, knee osteoarthritis, and vascular or retinal conditions of the eye (e.g. age-related macular degeneration)
Commercial Scale Manufacturing - Objectives:
Outlook for the Next 12 Months
Mesoblast expects to execute on the following objectives in the next 12 months:
MSC-100-IV for GVHD
MPC-06-ID for CDLBP
MPC-150-IM for CHF
Tier 2 products/pipeline
Mesoblast Limited (ASX: MSB; USOTC: MBLTY) is a world leader in the development of biologic products for the broad field of regenerative medicine. The Company's proprietary adult stem cell technologies include its highly purified, immunoselected Stro-1/Stro-3 positive Mesenchymal Precursor Cells (MPCs), culture-expanded Mesenchymal Stem Cells (MSCs), Dental Pulp Stem Cells (DPSCs), and expanded Hematopoietic Stem Cells (HSCs). Mesoblast's protein technologies are based on factors derived from its proprietary cellular platforms, including Stromal Derived Factor-1 (SDF-1). Mesoblast's allogeneic or 'off-the-shelf' cell-based products are targeting substantial market areas of unmet medical need, including cardiac and metabolic diseases, inflammatory/immune-mediated conditions, oncology, and orthopedic diseases. Lead products are MSC-100-IV for steroid refractory acute Graft Versus Host Disease, MPC-06-ID for chronic discogenic lower back pain and MPC-150-IM for congestive heart failure. www.mesoblast.com
CONTACT: Julie Meldrum Global Head of Corporate Communications Mesoblast Limited T: +61 (0) 3 9639 6036 E: email@example.com
Julie Meldrum Global Head of Corporate Communications Mesoblast Limited T: +61 (0) 3 9639 6036 E: firstname.lastname@example.org