Full Product Approval In Japan Received By Mesoblast Licensee

NEW YORK CITY and MELBOURNE, Australia, Sept. 18, 2015 (GLOBE NEWSWIRE) -- Mesoblast Limited (ASX: MSB; USOTC: MBLTY) today announced that its licensee JCR Pharmaceuticals Co. Ltd has received full approval from the Japanese Ministry of Health, Labour and Welfare for TEMCELL® HS Inj. (JR-031), an allogeneic mesenchymal stem cell product.

TEMCELL is a treatment for children and adults with acute Graft Versus Host Disease, a severe complication arising from hematopoietic cell transplants. TEMCELL has been developed in Japan by JCR utilizing technology under a license from Mesoblast.

Under its agreement with JCR, Mesoblast is entitled to receive a milestone payment on this product regulatory approval, as well as royalties and other payments at pre-defined thresholds of cumulative net sales.

Mesoblast Limited

Mesoblast Limited (ASX: MSB; USOTC: MBLTY) is a global leader in regenerative medicine. The Company has leveraged its proprietary technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a broad portfolio of late-stage product candidates. Mesoblast's allogeneic or 'off-the-shelf' cell product candidates target significantly advanced stages of diseases where there are highly unmet medical needs, including cardiovascular conditions, orthopedic disorders, immunologic/inflammatory disorders and oncology/hematology conditions.

CONTACT:Julie Meldrum Global Head of Corporate Communications Mesoblast Limited T: +61 (0) 3 9639 6036 E: julie.meldrum@mesoblast.comSource: Mesoblast