CELG enters into equity placement with Mesoblast

Hi all,

Celgene has entered into an equity placement deal with Australian stem cell company Mesoblast (ASX: MSB). CELG’s would have roughly a 4.5% position in MSB.

MSB is developing stem cell therapies based on MPCs - a type of cell extracted from bone marrow. It already has a partnership with Teva, with Teva owing over 10% of the shares in MSB. MSB’s pipeline is pretty deep, with several therapies in phase 3 testing. A commercial launch is still a year or so away, with the first products expected to launch in late 2015 in Japan.

MSB is one of the most exciting biotech developments in Australia, and Australia has done reasonably well in the biotech space (CSL, Cochlear, ResMed, Sirtex, to name some of the big successes).

I 'm excited as a stock holder in both companies!