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FDA Agreement on Mesoblast's Use of Singapore Manufacturing Facility for Clinical Trial Production of Proprietary Mesenchymal

FDA Agreement on Mesoblast's Use of Singapore Manufacturing Facility for
Clinical Trial Production of Proprietary Mesenchymal Precursor Cells

New Facility Will Support Product Delineation Strategies, Increase
Geographical Reach, and Reduce Risk of Single Site Reliance

MELBOURNE, Australia, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Mesoblast Limited
(ASX:MSB) (OTC ADR:MBLTY) today announced that United States Food and Drug
Administration (FDA) is in agreement for Mesoblast to supply its proprietary
Mesenchymal Precursor Cells (MPCs) for clinical trials in the United States
under Investigational New Drug (IND) protocols, from Lonza's contract
manufacturing facility in Singapore, in addition to its United States
facility.

This follows the successful transfer of Mesoblast's MPC manufacturing process
from the United States to the Singapore facilities of its contract
manufacturer Lonza. As the clinical indications pursued under IND by Mesoblast
continue to broaden, particularly using intravenous delivery of MPCs for
diseases of excessive inflammation and immunity, the Singapore facility will
serve to support strategies for new product delineation.

As previously announced, the FDA has agreed that Mesoblast's manufacturing
process is acceptable for Phase 3 clinical supplies. Mesoblast plans to use
product manufactured in the Singapore plant in global Phase 3 trials. 

Mesoblast Chief Executive Professor Silviu Itescu said: "Having multiple
geographic sites to manufacture our MPC products to FDA compliance is an
integral part of Mesoblast's corporate strategy for product delineation, and
offsets risks of single site dependence.

"We anticipate that our operations in Singapore, where we maintain exclusive
access to Lonza's manufacturing facilities for allogeneic cells, will expand
in line with our growth in global capacity requirements for product supply,
new product lines, and partnering strategies." 

Mesoblast Limited

Mesoblast Limited is a world leader in the development of biologic products
for the broad field of regenerative medicine. Mesoblast's patented Mesenchymal
Precursor Cell (MPC) technology is being developed for an extensive range of
major clinical diseases, including inflammatory and immunologic conditions,
diabetes and its complications, orthopedic spine conditions, and
cardiovascular disorders. www.mesoblast.com

CONTACT: Julie Meldrum
         Global Head of Corporate Communications
         T: + 61 3 9639 6036
         E: julie.meldrum@mesoblast.com