Dr Silviu Itescu, chief executive of stem-cell company Mesoblast. Long-time backers like billionaire investor and Itescu buddy Alex Waislitz say Mesoblast is on the cusp of the next frontier in medicine. "John Hempton, chief investment officer of Bronte Capital, is short about 70 biotech stocks around the world. "Even with vaccines, treatments like ours are still going to be necessary. Mesoblast chief executive Silviu Itescu stands out among his peers for his long-term commitment to innovation in stem cell research. "The priority is revenues, we're in transition from an R"We expect to get approval in the third quarter. "Itescu is unafazed by this. Earnings ahead: AMP, Telstra, Woodside Pete.Australia's unwanted advance. Email Tom at tom.richardson@afr.com. Silviu Itescu’s backers are happy. He declines to talk about specific stocks, but says there are few investors (including himself) in Australia who can skilfully assess the science.“This creates bad incentives," he says. "That said, Mesoblast is arguably the most advanced listed stem cell company globally and if successful would likely gain large amount of market in this new field of medicine. The study results spurred a 96% surge in its shares over the next two trading sessions. I think Mesoblast started off in arthritis and now they’re looking at COVID-19. "Waislitz counters: "When you are tackling new areas, or uncharted waters, there will be sceptics along the way. "We all hope the vaccine will come around, but we have to be realistic," Dr Itescu said. The said the biotech has risks, but meaningful upside should products be approved. There are no approved treatments for this kind of respiratory distress, and it is not yet known whether its product will prove safe and effective in a large group of patients.Dr Itescu said the company would know the results by the end of this calendar year. While Istecu says he expects cash outflows to remain at current levels of about $US60 million.Jefferies analysts Dr David Stanton and Vanessa Thomson in April initiated coverage of Mesoblast with a 'hold' call. Entering the ASX 200 should be a moment of celebration for any biotech start-up.For Silvio Itescu, the multimillionaire founder and chief executive of stem cell group Mesoblast, it should be an even-greater triumph after a On June 12, Mesoblast re-entered the ASX 200 as other healthcare companies Estia Health and Mayne Pharma dropped out.On paper the success has made Itescu wealthy.
More recently Mesoblast reached a similar type deal with Germany's Grünenthal, for its chronic back pain candidate for Europe and Latin America.In fiscal 2019, it received $US11 million milestone payments and $US5 million in commercialisation revenue. They must’ve have tried at least ten indications. It's most important was with drug maker Cephelon, with whom it inked a $US2 billion deal in 2010.Israel's Teva Pharmaceutical Industries, subsequently bought Cephelon. They must’ve have tried at least ten indications.Itescu was helped by others in London, including Philip "Scoop" Beard, a former journalist who moved into broking. "I think this will end up being a fabulous Australian success story," Waislitz saysHe wants the government and the Future Fund to support Mesoblast in building a manufacturing facility in Australia. "Kelly, who leads the VC's healthcare/biotech practice, warned there are not enough investors asking hard questions about the science. Instead, investors have rushed into buying companies that have anything to do with COVID-19.Waislitz was a pre-IPO investor in Mesoblast. He also acknowledges he has "traded round the edges" in shares over time, but remains a "fundamentally long" supporter.Mesoblast CEo and founder, Silviu Itescu, could have a big win the horizon with a key date in September with US FDA. It also reached a deal with China's Tasly Pharmaceutical Investments in 2018, which resulted in the group taking a 2.7 per cent stake for developing and marketing Mesoblast's drug candidates for heart failure in China. In 2008, Beard opened the London office of Southern Cross Equities Australia, which was later acquired by Bell Potter.During his 11 years running the broker, Beard got UK institutional investors like MDespite the big name support, the market is still split. We would like to show you a description here but the site won’t allow us. His 11 per cent holding is now valued at $280 million.But it's been a roller-coaster ride and Itescu is still fending off critics. "If they don’t, it will go overseas and we would have missed an opportunity to really celebrate the success of Mesoblast in Australia," he adds.Mesoblast's market value peaked at $2.5 billion in late 2011 and then endured a near decade of decline. Such therapies may never reach the mainstream market. Silviu Itescu is CEO/Managing Director at Mesoblast Ltd. See Silviu Itescu's compensation, career history, education, & memberships. "This is an exciting time for Mesoblast.Coronavirus: Need to know. "We're tracking pretty much as expected," Dr Itescu said.The company has also been working on getting the same product approved in the US for use in children who have graft-vs-host disease, a complication from bone marrow transplants.The Food and Drug Administration will review data about the effectiveness of the treatment on August 13. ... Connect with Tom on Twitter.
"Investors in this space do need to be patient. Since the market's nadir in March, the shares have leapt nearly fourfold to about $4, spurred by the announcement that it was evaluating one of its current product candidates - remestemcel-L - as a remedy for COVID-19 lung disease.Remestemcel-L - used to treat acute graft versus host disease (GVHD) in children - showed early signs of helping seriously ill coronavirus patients. The boss of biotech Mesoblast, which hopes to treat respiratory issues caused by COVID-19, has warned the virus will linger even if a vaccine is found. UK lowers death toll to 41,000. Sources say he is a master of stakeholder relations, and not challenged easily.One analyst insinuates that Itescu is opportunistic, saying he understands the financial markets "better than any other company I cover" and "is good at doing cap raises at the right price.
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