Melbourne, April 7, 2011 (ABN Newswire) - Mesoblast Limited (ASX:MSB) (PINK:MBLTY) wishes to inform the market that the Board of its strategic partner Cephalon Inc. (NASDAQ:CEPH) has rejected the unsolicited proposal from Valeant Pharmaceuticals International Inc (NYSE:VRX) to acquire its issued share capital or certain assets.
Reflecting on the value of its pipeline, the Cephalon Board said it "has created one of the broadest pipelines in the industry, with 10 late-stage product candidates targeted at novel and 'best-in-class' therapeutics. This includes six indications with blockbuster potential which are projected to begin launching in the next three years."
Mesoblast Limited (ASX:MSB) (OTC ADR: MBLTY) is the world's leading developer of innovative biological products for the broad field of regenerative medicine.
Mesoblast's commercial strategy is based on its unique proprietary adult mesenchymal precursor cells.
The company's lead products will target cardiovascular conditions, diabetes, inflammatory conditions of lungs and joints, eye diseases, bone marrow cancers, bone fractures, cartilage degeneration and musculoskeletal conditions.
Mesoblast and global biopharmaceutical company Cephalon Inc. have established a strategic alliance to commercialize adult stem cell products for degenerative conditions of the cardiovascular and central nervous systems. The alliance also extends to products for augmenting bone marrow transplantation in cancer patients.
Contact
Julie Meldrum Corporate Communications Director T: +61-3-9639-6036 C: +61-419-228-128 Email:julie.meldrum@mesoblast.com
ASX:MSB) (
Mesoblast Limited
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