Mesoblast successfully secures funds for key objectives

Mesoblast Limited (ASX: MSB; Nasdaq: MESO) has successfully completed its institutional placement and accelerated institutional component of the entitlement offer, raising approximately A$55 million at an issue price of A$0.30 per new share. The placement was oversubscribed, attracting firm commitments from existing and new institutional shareholders. The funds raised will be utilized to achieve the company's key objectives for 2024, including adult Phase 3 registration trials for steroid refractory acute graft versus host disease and chronic low back pain, as well as for general corporate purposes.

Chief Executive Officer's Comments on Successful Completion

Chief Executive Dr Silviu Itescu expressed gratitude towards the ongoing support from key institutional shareholders and the participation of new investors in the accelerated component of the placement and entitlement offer. Dr Itescu also affirmed his commitment by stating, 'The funds raised will allow Mesoblast to achieve its key objectives for 2024, as outlined at the AGM.'

Outlook and Utilization of Funds

Mesoblast's successful completion of the placement and institutional entitlement offer has secured approximately A$55 million, with Chief Executive Dr Silviu Itescu's commitment to take up a majority of his entitlement in the accelerated institutional offer. The funds raised will be utilized to advance adult Phase 3 registration trials for steroid refractory acute graft versus host disease and chronic low back pain, in addition to supporting general corporate purposes. This strategic move aligns with Mesoblast's ambitions to further develop allogeneic cellular medicines for the treatment of severe and life-threatening inflammatory conditions, reinforcing its position as a global leader in the field.