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Millions raised to fund medical programs
Regenerative medicine company Mesoblast has completed a multimillion-dollar fundraising.
Tom Lodewyke
Firm: Baker McKenzie (Bell Potter)
Value: $52.5 million
Area: Banking and finance
Key players: Lauren Magraith (pictured) was Baker McKenzie’s lead partner on the deal, assisted by senior associate Hoda Nahlous.
Deal significance: Mesoblast is an ASX- and Nasdaq-listed company that develops cellular medicines to target areas such as cardiac diseases, spine disorders, oncology and hematology diseases.
Mesoblast recently completed a fully underwritten institutional placement. It raised approximately $52.5 million to fund its ongoing phase 3 clinical programs.
Baker McKenzie acted for Australian brokerage Bell Potter, which was the sole lead manager and underwriter on the institutional placement.
Lead partner Lauren Magraith said the technical aspects made it an interesting transaction.
“One of the interesting features of the transaction saw Mesoblast apply to ASIC for relief, so that it could use the cleansing notice regime for the purposes of the placement, despite its securities having been suspended from trading for more than five days in the previous 12 months,” she said.
