Mesoblast shares lift on Ryoncil US launch
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More news: Mesoblast shares advanced in early trade after the biotechnology group confirmed the commercial launch of its cell therapy product Ryoncil in the US.
Mesoblast shares were up 1.8% to $2.24 at 11am AEDT, having surged more than 350% over the last 12 months.
Mesoblast announces launch of Ryoncil therapy in the US
The news: Melbourne-based biotech Mesoblast has announced its cell therapy product Ryoncil is now available for purchase in the US.
The context: Ryoncil is the first FDA-approved therapy for children aged two months and older with steroid-refractory acute graft versus host disease (SR-aGvHD), a life-threatening condition with high mortality rates that can arise from an allogeneic bone marrow transplant.
Mesoblast said it has been engaging with commercial and government insurers to expedite patient access to the therapy. Nine commercial payers have published favourable medical policies, it noted, representing 37 million covered lives in the US.
What they said: "The commercial availability of Ryoncil is a significant milestone in our mission to bring innovative cellular medicines to patients in need," said Mesoblast CEO Silviu Itescu.
"We have made Ryoncil available three months after receiving FDA approval, a significant commercial achievement and a reflection of our team and partners who are driven by the overwhelming desire to help children and their families faced with this devastating disease."
The source: ASX
