Mesoblast Inc. (NASDAQ: MESO) expects to raise close to $70 million in its upcoming IPO. Based in Melbourne, Australia, Mesoblast is a pharmaceutical company that develops and markets therapeutic products for the treatment of vascular, cardiac and eye conditions.

Currently, MESO trades on the Australian Securities Exchange under the symbol “MSB.” This week in the United States, Mesoblast will offer 5.7 million shares at an expected price of $12.10.

Mesoblast filed for the IPO on November 2, 2015.

Lead Underwriters: Credit Suisse Securities and JP Morgan Securities

Underwriters: Ladenburg Thalmann and Maxim Group

Business Summary: Pharmaceutical Company Developing Treatments for Cardiac, Vascular and Eye Conditions

Mesoblast develops and markets therapeutic products for the treatment of cardiac, vascular and eye conditions. The company offers protein therapeutics, adult stem cells, small molecule peptides and antibodies, gene silencing, cytokines and antigen-receptor inhibitors, MPC, and DNAzyme products to treat heart attacks, heart failure, peripheral artery disease and wound ulcers.

The company utilizes a proprietary technology platform that is based on specialized cells called mesenchymal lineage adult stem cells (MLCs). Mesoblast believes it has established the most advanced cellular medicine portfolio in the pharmaceutical industry.

Its products are allogeneic, which means the cells from one donor may be used in different recipients without the necessity of matching.

Its lead product candidates are:

· MPC-300-IV for biologic refractory rheumatoid arthritis and diabetic nephropathy

· MPC-150-IM for chronic heart failure

· MSC-100-IV for acute graft versus host disease

· MPC-06-ID for chronic low back pain due to disc degeneration

(Source)

Mesoblast intends to use the proceeds of the IPO to fund commercial manufacturing requirements for its Tier 1 and Tier 2 product candidates, funding further clinical trials, general administrative expenses and working capital.

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