Mesoblast CEO wins pontifical council award

Mesoblast (ASX:MSB) CEO Professor Silviu Itescu has won a joint award from a pontifical council and a stem cell foundation for his contributions to adult stem cell research.

The Pontifical Council for Culture and The Stem for Life Foundation have jointly granted Professor Itescu the inaugural Key Innovation Award 2013.

The award was jointly presented by Stem For Life Foundation president Dr Robin Smith and Tomasz Trafny, head of the council’s Science and Faith Department, during the Second International Vatican Adult Stem Cell Conference in Vatican City.

Dr Smith said the bodies chose Itescu for the award due to his “leadership and ingenuity” in the field of adult stem cell therapy.

“In every emerging industry, there are always individuals who stand out as pioneers,” he said. “Professor Itescu has distinguished himself as an innovator in the field of regenerative medicine, one that has brought hope and healing to a world struggling to manage chronic disease and serious medical conditions.”

Mesoblast last month completed a placement to raise $170 million to help fund its mesenchymal precursor cell (MPC) adult stem cell development efforts.

The company is preparing to enter phase III trials of NeoFuse, a spinal fusion treatment based on MPCs. The company is also trialling its MPCs in conditions including rheumatoid arthritis and type 2 diabetes.

Mesoblast shares were trading 0.67% lower at $5.96 as of around 2 pm on Friday.