Mesoblast accelerates Singapore manufacturing plans
Mesoblast (ASX:MSB) is accelerating its plans for scaling up to commercial manufacturing of its mesenchymal precursor cell products in Singapore.
The company has arranged to receive incentives from Singapore’s Economic Development Board (EDB) covering activities in Singapore related to manufacturing operations, product development and commercialisation.
Mesoblast has a pre-existing agreement with Lonza covering clinical manufacturing of Mesoblast’s mesenchymal lineage products. The deal grants Mesoblast exclusive access to Lonza’s Singapore facilities for allogenic stem cell therapies.
With Mesoblast aiming to secure fast-track approval for its allogenic stem cell product Prochymal in acute graft versus host disease (GVHD) in the US and also seeking approval in the EU, the company is now moving forward plans to scale up to commercial manufacturing.
“Bringing forward commercial manufacturing operations in Singapore is an important part of our overall global strategy as we prepare for product launches,” Mesoblast CEO Silviu Itescu said. “Singapore offers Mesoblast important benefits for our commercial, manufacturing and research operations.”
Mesoblast’s manufacturing agreement entitles it to trigger a process to have Lonza construct a purpose-built manufacturing facility for Mesoblast’s use.
Mesoblast (ASX:MSB) shares were trading 0.62% higher at $4.85 as of around 1.30 pm on Thursday.
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