Grünenthal bets $1 billion on back pain drug MPC-06-ID

10 September 2019

German pain management specialist Grünenthal and Australia’s Mesoblast (ASX: MSB) today announced a strategic partnership to develop and commercialize MPC-06-ID, with the news sending the latter’s shares rocketing 22.3% to A$1.78.

MPC-06-ID is a Phase III allogeneic cell therapy candidate for the treatment of chronic low back pain due to degenerative disc disease in patients who have exhausted conservative treatment options. Under the partnership, family-owned Grünenthal will have exclusive commercialization rights to MPC-06-ID for Europe and Latin America.

Financial terms of the deal

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