Mesoblast’s stem cell treatment recommended in Japan, shares go on a tear

Atsushi Tomura/Getty Images for MORINAGA

Mesoblast, the Australian biotech working on treatments for inflammatory ailments, cardiovascular disease and back pain, says a stem cell regenerative medicine has been recommended for use in Japan.

JR-031, a treatment developed by Mesoblast’s Japanese partner JCR Pharmaceuticals, was recommended for approval at a meeting organised by the Committee on Regenerative Medicine Products and Biological Technology of Pharmaceutical Affairs and Food Sanitation Council of the Japan Ministry of Health.

The medicine is for use to treat complications from cell transplants.

Earlier this year Celgene Corporation, a global biopharmaceutical company, paid $58.5 million for about 4.7% of Mesoblast and access to its anti-cancer drugs.