Mesoblast (ASX:MSB) completes $97M funding round heading into Q2

• Mesoblast (ASX:MSB) completes its pro-rata accelerated non-renounceable entitlement offer, launched on December 4, 2023
• The company raised a total of $97 million, with $36.7 million secured today mainly from existing major shareholders
• MSB last traded at 38c, at 12pm AEDT

Mesoblast (ASX:MSB) has completed its pro-rata accelerated non-renounceable entitlement offer, launched on December 4, 2023.

Alongside an institutional placement, the company raised a total of $97 million, with $36.7 million secured today mainly from existing major shareholders.

Dr Eric Rose, Mesoblast’s Chief Medical Officer and Director, contributed $1.5 million in additional shares, pending shareholder approval.

Mesoblast is a leader in developing off-the-shelf cellular medicines for severe inflammatory conditions. The company’s products release anti-inflammatory factors, with intellectual property protection extending to 2041.

Commercialisation efforts are underway in Japan and Europe, with strategic partnerships established for Phase 3 assets in Europe and China.

With locations in Australia, the United States, and Singapore, Mesoblast is listed on the Australian Securities Exchange (MSB) and Nasdaq (MESO).

MSB last traded at 38c, at 12pm AEDT.