Australian cell therapy company Mesoblast joins forces with Germany's Grünenthal to tackle low back pain
While the FDA reviews a rolling application for its experimental stem cell therapy for acute graft versus host disease (GVHD), Australia’s Mesoblast has tied up Germany’s pain specialist Grünenthal to develop a treatment for chronic low back pain caused by degenerative disc disease.
Under the deal, Grünenthal will gain exclusive commercialization rights to the drug, MPC-06-ID, for Europe and Latin America. Mesoblast, which is testing the drug in a US late-stage study that is expected to readout next year, is getting $150 million in upfront and milestone payments, in addition to potential royalties. Cumulative milestone payments could surpass $1 billion, the companies said on Monday.
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