Mesoblast Limited (ASX:MSB) In Strong Cash Position At End Of Financial Year
Melbourne, July 30, 2009 AEST (ABN Newswire) - Australian regenerative medicine company, Mesoblast Limited (ASX:MSB)(PINK:MBLTY), today announced that its cash position at 30 June 2009 was A$16.5 million.
The Company stated that it was in a strong financial position to execute on its current clinical programs, underway in the United States and Australia, and to maintain its pace of development in a growing suite of therapeutic products.
Mesoblast Chairman Brian Jamieson said: "We have made significant progress in the last financial year and are strongly positioned to deliver on our well-defined commercial strategy. With the cash at hand, we anticipate being able during the 2010 financial year to:
- Progress the platform technology towards Phase 3 registration trials.
- Obtain Therapeutic Goods Administration approval to commercially manufacture and distribute our products throughout Australia.
- Expand our commercial reach to other geographical jurisdictions.
- Establish cornerstone strategic corporate alliances.
"We are very well placed to maintain a rapid pace of development and move towards commercialisation of a broad range of cell therapy products in major fields of medical need such as orthopaedic and cardiovascular diseases," added Mr Jamieson.
Contact
Julie Meldrum
Corporate Communications Director
Mesoblast Limited
Tel: + 61-3-9639-6036
Mob: + 61-419-228-128
Email: julie.meldrum@mesoblast.com
www.mesoblast.com
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