Australia's Mesoblast formally lists on Nasdaq

Australia's Mesoblast formally listed on the Nasdaq on Friday and rose 11 cents to $8.11 after offering nearly 8.54 million American Depositary Shares, including partial exercise of an overallotment option, the company said in a press release. Mesoblast in September made the jump from drug discovery as Japanese partner JCR Pharmaceutical received approval to begin sales of an off-the-shelf allogeneic, or regenerative, medical product, Temcell, based on Mesoblast technology. Mesoblast will receive a milestone fee on the product pending regulatory approval, as well as royalties and other payments. In April, Mesoblast and U.S.-based Celgene ($CELG) entered into an investment and development deal for cancer and immune-inflammatory related diseases that include stem cell product candidates.