Mesoblast Announces Changes to Board of Directors' Leadership Roles

Core Insights - Mesoblast Limited is transitioning to a revenue-generating commercial company, as announced during the recent Annual General Meeting [1] Board Changes - Ms. Jane Bell will retire as Chair but remain on the Board as a non-executive director; Mr. Philip Facchina has been appointed as the new non-executive Chair, and Ms. Lyn Cobley will chair the Audit and Risk Committee [2] - Mr. Facchina brings over 40 years of experience in corporate strategy, finance, and business development, while Ms. Cobley has extensive corporate finance and governance experience [3] Governance and Strategy - The changes in the Board reflect a commitment to maintaining a high-performing Board with the right mix of expertise and fresh perspectives, aiming to maximize commercial delivery and shareholder value [4] - Mesoblast plans to strengthen its U.S. commercial expertise over the next twelve months [4] Company Overview - Mesoblast is a leader in developing allogeneic cellular medicines for severe inflammatory conditions, utilizing a proprietary mesenchymal lineage cell therapy technology platform [5] - The company’s Ryoncil (remestemcel-L-rknd) is the first FDA-approved mesenchymal stromal cell therapy for treating steroid-refractory acute graft versus host disease in pediatric patients [6] Product Development - Mesoblast is developing additional cell therapies for various indications, including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease, as well as rexlemestrocel-L for heart failure and chronic low back pain [7] - The company has established commercial partnerships in Japan, Europe, and China [7] Intellectual Property - Mesoblast holds a strong global intellectual property portfolio with over 1,000 granted patents or applications, providing commercial protection until at least 2044 in major markets [8] Manufacturing Capabilities - The company’s proprietary manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf cellular medicines, which are planned to be readily available to patients worldwide [9] Company Locations - Mesoblast operates in Australia, the United States, and Singapore, and is listed on both the Australian Securities Exchange and Nasdaq [10]