Login
K&L Gates acts on stem cell company financing
K&L Gates led Mesoblast Limited's $170 million raising, one of the largest international private equity financing for a biotech company in recent years.
Digital
To continue reading the rest of this article, please log in.
Create a free account to get unlimited news articles and more!
Firms: K&L Gates (Mesoblast Limited)
Deal: Private equity financing
Area: Corporate finance
Value: $170 million
Key players: K&L Gates partner Andrew Gaffney, based in Melbourne, led the team for Mesoblast. Also assisting on the merger from K&L Gates were special counsel Neil Miller, senior lawyer Malcolm Lum and lawyer Rania Seoud.
Deal significance: The adult stem cell research company raised this amount through a targeted institutional private placement. Mesoblast is the world’s leading developer of innovative biological products across a broad field of regenerative medicine utilising allogeneic adult stem cells. The company’s clinical programs target cardiovascular conditions, diabetes, inflammatory conditions of lungs and joints, eye diseases, bone marrow cancers, bone fractures, cartilage degeneration and musculoskeletal conditions.
“This raising for Mesoblast was very strategic and targeted having regard to the importance of the composition of the company’s share register. The company, within a 48-hour trading halt, was able to conclude a large private institutional raise from targeted investors in UK, Asia and US,” said Gaffney.
