Mesoblast Limited (ASX:MSB) Raises Capital Of A$10.81 Million For New Clinical Programs

Melbourne, Mar 30, 2009 (ABN Newswire) – Mesoblast Limited (ASX:MSB)(PINK:MBLTY) Australia’s regenerative medicine company, today announced that it has successfully completed a private placement to existing, as well as new, institutional and sophisticated investors, raising A$10.81 million.

The new funds will be used in conjunction with Mesoblast’s existing working capital, reported at 31 December to be A$9.6 million, to expand the company’s clinical trial programs focussing on bone and cartilage regenerative products for spinal vertebral disc disease. These programs will be pursued in parallel to the Company’s ongoing Phase 2 clinical trial in knee osteoarthritis.