Mesoblast Limited

Mesoblast Limited (ASX:MSB) (PINK:MBLTY) wishes to inform the market that the Board of its strategic partner Cephalon Inc. (NASDAQ:CEPH) has rejected the unsolicited proposal from Valeant Pharmaceuticals International Inc (NYSE:VRX) to acquire its issued share capital or certain assets.

Mesoblast Limited (ASX:MSB) (PINK:MBLTY), has received a number of enquiries from shareholders and analysts regarding yesterday's announcement by Mesoblast's strategic partner Cephalon Inc. (NASDAQ:CEPH) that it had received an unsolicited proposal from Valeant Pharmaceuticals International Inc (TSE:VRX) to acquire Cephalon's issued share capital or certain assets. Mesoblast continues to maintain a close dialogue with Cephalon.

Regenerative medicine company Mesoblast Limited (ASX:MSB) (PINK:MBLTY) today announced that Chief Executive Officer Professor Silviu Itescu has been named BioSpectrum Asia Pacific Person of the Year 2011. BioSpectrum Asia is the leading Asian life sciences publication.

Regenerative medicine company Mesoblast Limited (ASX:MSB) (PINK:MBLTY) today reported its half year results for the period ended 31 December 2010. At the reporting date, Mesoblast recorded funds of $140.6 million but has since nearly doubled its cash reserves to $279 million after an equity purchase by global biopharmaceutical company Cephalon Inc. (NASDAQ:CEPH) that brings its total Mesoblast holding to 19.99%.

Regenerative medicine company Mesoblast Limited (ASX:MSB) (PINK:MBLTY), today reported that it had issued an additional 24,702,056 ordinary shares to global biopharmaceutical company Cephalon Inc. (NASDAQ:CEPH), and received an additional cash injection of A$139 million. Mesoblast's total cash reserves are now approximately A$280 million.

The strategic alliance between regenerative medicine company, Mesoblast Limited (ASX:MSB) (PINK:MBLTY), and global biopharmaceutical company, Cephalon Inc. (NASDAQ:CEPH), was highlighted at the 29th annual JP Morgan Healthcare Conference in San Francisco yesterday.

Cephalon, Inc. (NASDAQ:CEPH) and Mesoblast Limited (ASX:MSB) (PINK:MBLTY) today announced positive interim results from Mesoblast's ongoing multi-center Phase 2 trial of its "off-the-shelf" proprietary adult stem cell product Revascor (TM) for patients with congestive heart failure.

Regenerative medicine company, Mesoblast Limited (ASX:MSB) (PINK:MBLTY) today announced that it had completed its acquisition of United States company Angioblast Systems Inc with the issue of 90.8 million ordinary shares to former Angioblast security holders, increasing the total number of shares on offer to 253.8 million shares. Notably, no former Angioblast security holders elected to take a cash entitlement, resulting in a total saving to Mesoblast of approximately A$47 million.

Australian regenerative medicine company, Mesoblast Limited (ASX:MSB) (PINK:MBLTY) and global biopharmaceutical company, Cephalon, Inc. (NASDAQ:CEPH), today announced they have entered into a strategic alliance to develop and commercialize novel adult stem cell therapeutics for degenerative conditions of the central nervous and cardiovascular systems. These conditions include Parkinson's disease, Alzheimer's Disease, Congestive Heart Failure and Acute Myocardial Infarction. The alliance also extends to products for augmenting bone marrow transplantation in cancer patients.

Mesoblast Limited (ASX:MSB) (PINK:MBLTY) is pleased to release Chairman's address 2010 Annual General Meeting.