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March 30, 2017updated 22 Nov 2021 9:58am

Deals this week: Mesoblast, Orexigen Therapeutics Ireland, Savior Lifetec Corporation

Mesoblast has raised A$52.5m ($40m) from a fully underwritten private placement of shares to its existing global institutional investors, as well as new institutional and sophisticated investors.

Mesoblast has raised A$52.5m ($40m) from a fully underwritten private placement of shares to its existing global institutional investors, as well as new institutional and sophisticated investors.

The placement included 26.25 million shares priced at A$2 ($1.52) a share.

The proceeds are intended to be used for the ongoing phase III clinical trial programmes and for manufacturing of commercialised products.

Mesoblast is a regenerative medicines company based in Australia.

Irish biopharmaceutical company Orexigen Therapeutics Ireland, a subsidiary of Orexigen Therapeutics, has signed a distribution agreement with Italian pharmaceutical company Bruno Farmaceutici.

“The proceeds are intended to be used for the ongoing phase III clinical trial programmes and for manufacturing of commercialised products.”

The latter will commercialise the former’s drug Mysimba from the fourth quarter of this year, under the agreement.

Bruno will also be responsible for the commercialisation and associated expenses of the drug.

Orexigen will make Bruno upfront milestone payments, as well as additional payments based on the achievement of sales-based milestones.

Taiwan-based pharmaceutical company Savior Lifetec Corporation intends to raise NT$700m ($23.06m) through a public offering of first series domestic secured convertible corporate bonds in order to repay its bank loan.

The bonds will be issued at a price of NT$100,000 ($3,294.3) each and will have a maturity period of three years.

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