Mesoblast Limited (Nasdaq:MESO; ASX:MSB), a global leader in allogeneic cellular medicines for inflammatory diseases, today announced that it has appointed James M. O’Brien as Chief Financial Officer (CFO) in the US in connection with the company’s transition to a fully integrated commercial organization. Jim has extensive experience in all aspects of financial management and planning. He has spent most of his career at multinational public and private companies in the life sciences, biotechnology and pharmaceutical industries.
Mesoblast CEO Dr. Silviu Itescu said: “We are very pleased to have Jim join Mesoblast. His deep functional financial expertise and knowledge of the US markets fills an important senior leadership position as we transition to a mature commercial organization. Jim’s extensive experience will provide Mesoblast with the financial leadership needed as we commercialize Ryoncil. ® and looks forward to expanding the label. His skills will complement those of Andrew Chaponnel, our Head of Finance, implementing robust financial controls, reporting and governance across revenue forecasting, financing and capital allocation.”
Jim has had global responsibility for overseeing the finances, reporting, internal controls and accounting activities of Actavis plc, which subsequently acquired Allergan plc prior to its acquisition by AbbVie Inc. Jim created a world-class financial budgeting and forecasting process to track business performance and trends, and developed financial tools and analytics to support a range of business activities, including corporate strategy and business development, integrating international business acquisitions and managing operations for transactions approaching $10 billion. During his tenure, Actavis had proforma revenues of more than $8 billion. Previously, Jim built a finance team that oversaw all supply chain and revenue management for Nycomed, a $750 million private equity firm that was acquired by Sandoz for $1.5 billion. Jim’s recent CFO roles include NASDAQ-listed biopharmaceutical company Cognition Therapeutics, Inc., which oversaw the company’s successful initial public offering, and dual-listed Finnish biotechnology company Faron Pharmaceuticals, Ltd. He has also held financial positions at Bristol-Myers Squibb (BMS). Jim is a certified public accountant and previously worked at PriceWaterhouseCoopers in New York and Washington DC.
About Mesoblast
Mesoblast (the Company) is a world leader in the development of allogeneic (off-the-shelf) cellular medicines for the treatment of serious and life-threatening inflammatory conditions. The proprietary mesenchymal cell therapy technology platform’s therapies respond to severe inflammation by releasing anti-inflammatory factors that counteract and modulate multiple effector arms of the immune system, resulting in a significant reduction in the harmful inflammatory process.
Mesoblast’s Ryoncil ® (remestemcel-L-rknd) for the treatment of steroid-refractory acute graft versus host disease (SR-aGvHD) in pediatric patients 2 months and older is the first FDA-approved mesenchymal stromal cell (MSC) therapy. See full prescribing information at www.ryoncil.com .
Mesoblast is committed to developing complementary cell therapies for various indications based on its remestemcel-L and rexlemestrocel-L allogeneic stromal cell technology platforms. Ryoncil ® is being developed for additional inflammatory diseases, including SR-aGvHD in adults and bioresistant inflammatory bowel diseases. Rexlemestrocel-L is being developed for heart failure and chronic low back pain. The company has established commercial partnerships in Japan, Europe and China.
About Mesoblast intellectual property: Mesoblast has a strong and extensive global intellectual property portfolio, with more than 1,000 issued patents or patent applications covering mesenchymal stromal cell matter compositions, manufacturing methods and indications. These issued patents and patent applications provide commercial protection extending until at least 2044 in all major markets.
About Mesoblast Production: The company’s proprietary manufacturing processes deliver cryopreserved, ready-to-use, industrial-scale cellular medicines. It is intended that these cell therapies, with defined pharmaceutical delivery criteria, will be immediately available to patients worldwide.
Mesoblast has offices in Australia, the United States and Singapore and is listed on the Australian Securities Exchange (MSB) and Nasdaq (MESO). For more information, see www.mesoblast.com LinkedIn: Mesoblast Limited and Twitter: @Mesoblast
Forward-Looking Statements
This press release contains forward-looking statements that relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, activity levels, performance or achievements to be materially different from any future results, activity levels, performance or achievements expressed or implied by these forward-looking statements. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements should not be read as a guarantee of future performance or results, and actual results may differ from those anticipated in these forward-looking statements, and the differences could be material and adverse. Forward-looking statements include, but are not limited to, statements regarding: the initiation, timing, progress and results of Mesoblast’s preclinical and clinical studies, and Mesoblast’s research and development programs; Mesoblast’s ability to advance and successfully enroll and complete product candidates in clinical trials, including multinational clinical trials; Mesoblast’s ability to improve its manufacturing capabilities; the timing or likelihood of regulatory filings and approvals, manufacturing activities and product marketing activities, if any; the commercialization of Mesoblast’s RYONCIL for pediatric SR-aGVHD and any other product candidates, if approved; regulatory or public perceptions and market acceptance surrounding the use of stem cell-based therapies; the possibility that Mesoblast’s product candidates, if approved, may be withdrawn from the market due to adverse events or patient deaths; the potential benefits of strategic partnership agreements and Mesoblast’s ability to establish and maintain established strategic partnerships; Mesoblast’s ability to establish and maintain intellectual property rights in its product candidates and Mesoblast’s ability to successfully defend them in cases of alleged infringement; the scope of protection that Mesoblast may establish and maintain for intellectual property rights relating to its product candidates and technology; estimates of Mesoblast’s expenses, future revenues, capital requirements and its needs for additional financing; Mesoblast’s financial performance; developments regarding Mesoblast’s competitors and industry; and the pricing and reimbursement of Mesoblast’s product candidates, if approved. You should read this press release together with our risk factors in our most recently filed reports with the SEC or on our website. Uncertainties and risks that could cause Mesoblast’s actual results, performance or achievements to be materially different from those that may be expressed or implied by such statements, and accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
Release authorized by the Chief Executive.
For more information please contact:
Business communications / Investors
Paul Hughes
T: +61 3 9639 6036
Media – Global
Allison Worldwide
Emma Neal
T: +1 603 545 4843
E: emma.neal@allisonworldwide.com
Media – Australia
BlueDot Media
Steve Dabkowski
T: +61 419 880 486
E: steve@bluedot.net.au
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