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Biotech deal gets pulses racing

Biotech deal gets pulses racing

Andrew Silberberg Arnold Bloch Leibler

Arnold Bloch Leibler and King & Wood Mallesons have negotiated a major share purchase in an Australian biopharmaceutical provider by Celgene Corporation.

Firms: Arnold Bloch Leibler (Mesoblast), Wilson Sonsini Goodrich & Rosati (Mesoblast), King & Wood Mallesons (Celgene), Dechert LLP (Celgene)

Deal: Celgene agreed to purchase 15.3 million ordinary shares in Mesoblast Ltd

Value: A$58.5 million

Area: Capital markets

Key players: ABL commercial partner Andrew Silberberg (pictured) worked on the negotiation alongside senior associate John Kim. Strategic support was provided by managing partner Henry Lanzer and commercial partner Jonathan Wenig.

Deal significance:

The investment by Celgene will inject $58.5 million into Australian-owned Mesoblast Ltd.

Celgene is a biotechnology provider based in the United States, described by Arnold Bloch Leibler partner Andrew Silberberg as “a global leader in regenerative medicine”.

Mesoblast is an ASX-listed firm specialising in the treatment of cardiovascular, inflammatory and oncology conditions.

The deal will allow Celgene to strengthen its development and commercialisation pipeline, according to a statement from Arnold Bloch Leibler.

“This is another great example of international interest in an innovative Australian company,” Mr Silberberg said.

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