Mesoblast Limited is a commercial-stage biotechnology company developing allogeneic cellular medicines for severe inflammatory conditions. The company uses its proprietary mesenchymal lineage cell therapy platform to create off-the-shelf therapies that modulate immune responses and promote tissue repair without requiring donor-recipient matching. Mesoblast Limited received FDA approval in December 2024 for Ryoncil for steroid-refractory acute graft versus host disease in pediatric patients two months and older.

Mesoblast Limited generates revenue through upfront payments milestone payments and royalties from license and collaboration agreements with pharmaceutical partners. Following FDA approval of Ryoncil the company began commercial sales in the United States starting in March 2025. Revenue also comes from partnerships covering chronic low back pain heart failure and inflammatory bowel disease applications.

Mesoblast Limited holds a pioneering position as the developer of the first mesenchymal stromal cell therapy approved by the FDA for any indication in the United States. The company benefits from seven years of orphan drug exclusivity for Ryoncil in pediatric graft versus host disease and addresses significant unmet medical needs in cardiovascular and inflammatory conditions where limited treatment options exist. Competitive advantages include proprietary cell technology and a pipeline targeting large patient populations.

Mesoblast Limited serves patients with severe inflammatory conditions including steroid-refractory acute graft versus host disease chronic heart failure and chronic low back pain. The company collaborates with transplant centers and healthcare providers with over 25 U. S. transplant centers onboarded for Ryoncil. In the United States it has secured reimbursement coverage through commercial and government payers for more than 250 million lives including nationwide Medicaid access for its approved product.