Shots:

• Mesoblast to receive $25M up front and $25M as equity investment with additional payments and royalties on achievement of development- regulatory and commercial milestones
• Novartis to acquire the exclusive WW rights to develop- commercialize & manufacture remestemcel-L for ARDS & access to a cell-therapy based platform with WW rights to a range of potential indications. Novartis has the option to distribute remestemcel-L for GVHD (outside Japan)
• Both parties have rights to co-fund development & commercialization for other non-respiratory indications. Remestemcel-L is currently being studied in COVID-19-related ARDS in an ongoing P-III study while Novartis plans to initiate a P-III study in non-COVID-19-related ARDS

 ­ Ref: Novartis | Image: Novartis