Mallinckrodt buys into Mesoblast in cell therapy deal

Mallinckrodt plc (NYSE:MNK) acquired a 5% stake in Mesoblast Ltd. (ASX:MSB; NASDAQ:MESO) and obtained exclusive negotiation rights for two cell therapy candidates to treat low back pain and graft-versus-host disease (GvHD).

Mallinckrodt will invest A$29.6 million ($21.6 million) through the purchase of 20 million Mesoblast shares at A$1.4761. The price is a 5.4% premium to the stock’s close at A$1.40 on Thursday, before the deal was announced...