Stem cell product company Mesoblast has raised $US90 million ($138 million) of fresh funds as it makes a major push with trials and a scale-up in manufacturing of its key drug candidate to treat seriously ill COVID-19 patients.
Investors bought in at $3.20 per share price, a 7 per cent discount the close of trading on May 8. The fresh fund raising effort comes on the back of $75 million placement to build product inventory and a targeted American sales force in October.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
