Mesoblast shares rocket on stem cell therapy to fight coronavirus
Mesoblast rose more than 15pc on Tuesday after it revealed plans to evaluate its anti-inflammatory product in coronavirus patients.
Shares in the Anthony Pratt and Alex Waislitz-backed stem cell company Mesoblast rose more than 15 per cent on Tuesday after it revealed plans to evaluate its anti-inflammatory product in patients that had developed acute respiratory distress as a result of contracting coronavirus.
Days after international clinical studies highlighted the potential to use stem cell injections to treat coronavirus, Mesoblast said its proprietary Remestemcel-L anti-inflammatory allogenic mesenchymal stem cell product could have “clinical benefits” to coronavirus sufferers who had “progressed to respiratory distress”.
“The company is in active discussions with various government and regulatory authorities, medical institutions and pharmaceutical companies to implement these activities,’’ Mesoblast told the ASX.
Mesoblast initially developed Remestemcel-L to treat rare paediatric and adult inflammatory conditions.
After opening at $1.85, Mesoblast shares on Tuesday rose to a high of $2.35 before settling in afternoon trading. They closed 31c higher at $2.14.
Three clinical studies in China are investigating the potential use of umbilical cord stem cells to treat patients with the coronavirus, part of a string of trials happening worldwide on medical products and vaccines that may halt the epidemic.
Stockbroker Cantor Fitzgerald said last week that a study in China involving the transplantation of mesenchymal stem cells (MSC) had improved the outcome of patients with pneumonia developed from the COVID-19 contagion.
“Additionally, in post-hoc analyses of a 60-patient randomised controlled study in chronic obstructive pulmonary disease, Remestemcel-L infusions were well tolerated, significantly reduced inflammatory biomarkers, and significantly improved pulmonary function in those patients with elevated inflammatory biomarkers,’’ Mesoblast told the ASX.
“Since the same inflammatory biomarkers are also elevated in COVID-19, these data suggest that Remestemcel-L could be useful in the treatment of patients with ARDS due to COVID-19. The COPD study results have been submitted for presentation at an international conference, with full results to be submitted for publication shortly.”
Mesoblast has said it had more than 1000 patents for many potential MSC applications in Australia, the US and Europe. Chief executive Silviu Itescu also claimed Mesoblast had the most mature cell therapy product pipeline and technology platform in the regenerative medicine industry.
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