BEIJING, July 18 (Xinhua) -- Tasly Pharmaceutical Group CO.,LTD (600535.SH) announced on Tuesday that it had inked investment agreement and product development commercialization agreement with Mesoblast, the world's leading stem cell R&D company.
Tasly would subscribed for 20 million U.S. dollar common stock of Mesoblast and bring in two stem cell products which are respectively in the FDA clinical phase III and phase II trials, according to the agreement.
Under the agreements, Tasly will be entitled to the exclusive development, production and commercialization of cooperative stem cell products in China (including Hong Kong and Macau).
The cooperation has broadened the company's cardiovascular medicine product pipeline, while filling the gap of using stem cell products for the treatment of cerebrovascular diseases, Tasly said. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
A single purchase
