Thinly traded micro cap Mesoblast Limited (NASDAQ:MESO) is up 14% premarket on light volume in reaction to its partnership with Grünenthal to develop and commercialize allogeneic cell therapy candidate MPC-06-ID for the treatment of low back pain due to degenerative disc disease in patients who have exhausted conservative treatment options.
Under the terms of the agreement, Grünenthal will have exclusive commercialization rights in Europe and Latin America. Mesoblast will receive $15M upfront, up to $135M in prelaunch milestones, up to ~$1B in cumulative milestones plus tiered double-digit royalties on net sales.
Topline data from a Phase 3 study in the U.S. should be available in 2020.
Results from a Phase 2 trial showed clinically meaningful and sustained improvements in pain intensity and functionality for at least three years on the basis of a single intradiscal injection of MPC-06-ID (~6M mesenchymal precursor cells).
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.