Osiris to sell culture-expanded MSCs business including Prochymal

11 October 2013

USA-based Osiris Therapeutics (Nasdaq: OSIR) has entered into an agreement with a wholly-owned subsidiary of Mesoblast (ASX: MSB) for the sale of Osiris’ culture-expanded mesenchymal stem cell (ceMSC) business, including Prochymal (remestemcel-L).

The transaction is worth up to $100 million in initial consideration and milestone payments. Additionally, Osiris will receive royalty payments on sales of Prochymal and other products utilizing the acquired ceMSC technology. Last year, Prochymal became the first drug to be approved for the treatment of acute graft-versus-host disease (GvHD) in children.

Summary of the transaction

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