Mesoblast to buy US partner Angioblast
Tuesday, 24 August, 2010
Regenerative medicine specialists Mesoblast announced this week that it has convened an extraordinary general meeting with shareholders to vote on the proposed acquisition of the company’s US partner Angioblast Systems.
The company said that the acquisition would result in Mesoblast significantly broadening its existing product portfolio as it would take full ownership of the IP rights relating to the full Mesenchymal Precursor Cell (MPC) technology platform.
“Fundamentally, it would transform Mesoblast from a biologics company focused on orthopaedic applications to a global leader in the regenerative medicine industry,” the company said.
“Mesoblast shareholders would gain full commercial benefits from the breadth of applications, including cardiac, eye, diabetes and oncology.”
The combined entity would also be better placed to forge strategic partenrships, the company added, while the consolidation of sales and marketing activities would ikely to lead to significant cost savings.
Mesolast added that Angiobast’s current clinical programs involving “off-the-shelf” MPC adult stem cells for congestive heart failure and bone marrow regeneration are currently among the most advanced in the US.
The shareholder meeting is scheduled to take place in Melbourne on September 22.
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