Mesoblast rebounds from FDA setback by landing Novartis as partner to develop mesenchymal stromal cells

Eight weeks after a complete response letter for remestemcel-L sent its share price tumbling, Mesoblast has unveiled a partnership with Novartis to develop the mesenchymal stromal cell product, starting with  acute respiratory distress syndrome, including ARDS associated with COVID-19.

Mesoblast Ltd. (ASX:MSB; NASDAQ:MESO) and Novartis AG (NYSE:NVS; SIX:NOVN) announced late Thursday an exclusive worldwide license and collaboration agreement for the development, manufacture and commercialization of remestemcel-L. ...