Tasly gets Chinese rights to two cell therapies from Mesoblast

Tasly Pharmaceutical Co. Ltd. (Shanghai:600535) received exclusive, Chinese rights to develop and commercialize mesenchymal precursor cell candidates MPC-150-IM and MPC-25-IC from Mesoblast Ltd. (ASX:MSB; NASDAQ:MESO).

Mesoblast will receive a $40 million upfront payment comprising a $20 million technology access fee and $20 million in equity through the purchase Mesoblast shares at $1.86. The cell therapy company is eligible for an additional $25 million following Chinese approval of the products, as well as double-digit escalating royalties and sales milestones...