Mesoblast enters into $75mm credit facility with Hercules Capital

Mesoblast Ltd. (allogenic cell therapy platform) entered into a four-year $75mm credit facility with Hercules Capital with $35mm drawn down at closing. An additional $15mm may be drawn on or before Q4 2018, and the final $25mm may be drawn on or before Q3 2019. The loan bears an interest rate of 9.45% per year with interest payments required over the first 30 months of the loan. Proceeds will be used to fund commercialization of MSC-100-IV (remestemcel-L) in children with steroid refractory acute graft versus host disease and to further the company's late stage pipeline including MPC-150-IM in patients with Class II/III advanced chronic heart failure, and in end-stage Class III/IV heart failure patients with left ventricular assist devices, and MPC-06-ID in patients with chronic low back pain due to degenerative disc disease.