Mesoblast Limited has entered into convertible note subscription agreements with SurgCenter principals and existing shareholders, offering up to $50.0 million for general working capital. The convertible notes have a coupon of 5% per annum and a conversion price of US$16.25 per ADR. Investors will receive a commitment fee of US$100,000 and warrants over ordinary shares for entering into the agreement. The funds will help optimize Mesoblast’s capital structure and support pipeline growth opportunities. Mesoblast is a global leader in allogeneic cellular medicines for inflammatory diseases, with a strong intellectual property portfolio and manufacturing capabilities.

Mesoblast’s Ryoncil® is the first FDA-approved mesenchymal stromal cell therapy for pediatric patients with acute graft versus host disease. The company is committed to developing cell therapies for various inflammatory conditions, with additional products in development for heart failure and chronic low back pain. Mesoblast has commercial partnerships in Japan, Europe, and China, and a global intellectual property portfolio expected to provide commercial protection through 2041. The company’s proprietary manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf cellular medicines for patients worldwide.

Read more at GlobeNewswire: Mesoblast Enters Into Option To Issue US$50 Million