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Celgene (CELG) and Mesoblast ADR (USOTC: MBLTY) extend right of first refusal

October 16, 2015 8:53am

Mesoblast extends CELG’s for 6 months, the prevention and treatment of acute graft versus host disease (GVHD), certain oncologic diseases, inflammatory bowel diseases, and organ transplant rejection.

Mesoblast Limited (ASX: MSB; USOTC: MBLTY) has agreed with Celgene to extend for a period of six months Celgene's right of first refusal with respect to Mesoblast's proprietary mesenchymal lineage adult stem cell product candidates for the prevention and treatment of acute graft versus host disease (GVHD), certain oncologic diseases, inflammatory bowel diseases, and organ transplant rejection.

The Bottom Line: Pact covers Mesoblast’s adult stem cell product candidates for the prevention and treatment of acute graft versus host disease, some oncologic diseases, inflammatory bowel diseases and organ transplant rejection.

CELG closed at $117.53 and is down in the pre-market -$0.03 and USOTC: MBLTY closed +$0.09 at $12.11. The proof will be in the pudding as Prochymal is approved in Japan and a $40+ M equity stake by CELG - BUY

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