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news.Cephalon and Mesoblast Limited have entered into a strategic alliance to develop and commercialise novel adult Mesenchymal Precursor Stem Cell (MPC) therapeutics for degenerative conditions of the cardiovascular and central nervous systems.
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As per the terms of the development and commercialisation agreement between the companies, in exchange for exclusive world-wide rights to commercialise specific products based on Mesoblast’s proprietary adult stem cell technology platform, Cephalon will make an upfront payment to Mesoblast totaling $130m and regulatory milestone payments of up to $1.7bn.
Mesoblast will be responsible for the conduct and expenses of certain Phase IIa clinical trials and commercial supply of the products.
However, Cephalon will be responsible for the conduct and expenses of all Phase IIb and III clinical trials and subsequent commercialisation of the products.
Mesoblast will retain all manufacturing rights and will share in the net product sales.
Mesoblast chief executive Silviu Itescu said they are looking forward to working with the Cephalon team to commercialise and deliver these products to physicians and the patients who will ultimately benefit from an arsenal of new innovative approaches for degenerative diseases.