Mesoblast Limited (Mesoblast) is engaged in the commercialization of intellectual property associated with the isolation, culture and scale-up of adult stem cells referred to as mesenchymal precursor cells (MPCs). Mesoblast operates in one segment, which includes the research and development of MPCs. The Company�s cardiovascular and neurologic product pipeline is being developed in partnership with Teva Pharmaceutical Industries Ltd (Teva). The markets the Company is targeting and is developing clinical products for disorders related to inflammation and immunology, diabetes and its complications, orthopedic diseases of the spine, and cardiovascular diseases. Mesoblast has developed the adult stem cell-based heart product Revascor to treat moderate to severe congestive heart failure. The Company�s subsidiaries include Mesoblast, Inc., Mesoblast International SA, Mesoblast Australia Pty Ltd and Mesoblast UK Limited.