Mesoblast option to issue up to us$50 million convertible notes for product launch

New york, sept. 29, 2024 (globe newswire) -- mesoblast limited (nasdaq:meso; asx:msb), global leader in allogeneic cellular medicines for inflammatory diseases, today announced it has entered into a convertible note subscription agreement with its largest shareholder gregory george (“investor”) for issue, at its sole discretion, up to us$50.0 million (a$72.7 million) convertible notes on approval by the united states food and drug administration (fda) of mesoblast's lead product candidate ryoncil® (remestemcel-l) in the treatment of children with steroid-refractory acute graft versus host disease (sr-agvhd). the funding is available at mesoblast's option and will enable the company to seamlessly implement its go-to-market commercial strategy. mesoblast anticipates a decision prior to or on the fda's prescription drug user fee act (pdufa) goal date of january 7, 2025.
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