Novartis, Mesoblast Enter Pact on Rights for ARDS Treatment (1)

Novartis enters agreement with Mesoblast, acquires worldwide rights to develop, manufacture and sell remestemcel-L to treat acute respiratory distress syndrome (ARDS) and other indications. Mesoblast shares rose 13% in after-market trading.

• Novartis to make $25m upfront payment and invest $25m in Mesoblast equity, with additional payments and royalties due on achievement of agreed milestones
• Remestemcel-L is being studied in Covid-19-related ARDS in an ongoing 300-patient Phase 3 study
• In March, an open label compassionate use program was conducted, which included 12 patients with Covid-19-related ARDS, who were being supported with mechanical ventilation; remestemcel-L treatment was associated with an 83% survival ...