Novartis Invests in Stem Cell Therapy for Covid
This article is for subscribers only.
Mesoblast Ltd. soars after getting a vote of confidence from large pharmaceutical backer Novartis AG on a stem cell medicine that was panned by U.S regulators just a month before.
Novartis will pay an initial $25 million and invest another $25 million in Mesoblast stock in a deal securing global rights for remestemcel-L. The stem cell therapy is being developed to treat acute respiratory distress syndrome, a complication often seen in advanced Covid-19 patients.