Dr Silviu Itescu, CEO & MD - Mesoblast A Quinquagenarian from Australia, Dr Silviu Itescu, is based out of the US and has been traveling tirelessly between New York and Melbourne with the sole objective of rapid development and commercialization of therapies to treat patients with bone and joint diseases.
He has had at least four new investigational new drug applications passed through the FDA [US Food and Drug Administration]. Mesoblast chief Dr Silviu Itescu has warned Australians must not become complacent about the coronavirus threat even if a successful vaccine is discovered. As the Chief Executive Officer and Executive Director of Mesoblast, the total compensation of Silviu Itescu at Mesoblast is AUD$1,927,280. Silviu Itescu is currently. Driven by the fascination towards stem cell research, Dr Itescu began to look for more effective ways of restoring damaged tissue, particularly the heart. Itescu tells Mesoblast’s shares are worth $6.54 today: its listing price was 50 cents. Over the past eight years, Itescu has consistently built the value of the company in the eyes of investors.He retains a 24% share of the company and is a Rich List member, with a personal fortune estimated by BRW at about $500 million this year.“He is really f**cking strategic,” biotechnology analyst, David Blake, of Bioshares, says.“He has broken the mould for strategic behaviour and thinking by anyone in the life sciences in Australia. “We have a well-established pipeline, from phase three and two to pre-clinical.“We have strengthened ourselves by targeting much higher value clinical indications.
"We expect successful launch of our products globally within the next few years," concludes Dr Itescu.Should we be cautious of viewing COVID-19 vaccine as silver bullet? Teva’s deal delivered $130 million into the Mesoblast cash account, 20% of its shares and agreeing to pay for the phase three trials (the last and the most expensive before a therapy is approved by regulators) of the company’s cardiovascular treatment, Revascor, which is likely to be its first to market.Mesoblast also has a partnership with Lonza, a custom manufacturer of drug products, which means Mesoblast retains control of manufacturing. We will get in touch with you shortly.
The products manufactured by the company are used for the treatment of cardiovascular and neurological conditions, diabetes, eye diseases, bone marrow regeneration, bone fractures, cartilage degeneration and musculoskeletal conditions.BioSpectrum recognized his efforts and awarded him with the BioSpectrum Asia Pacific Bioscience Industry Person of the Year Award for 2011.Dr Itescu, who was born in Romania, studied in Australia from the age of seven until he completed his masters in medicine at the University of Melbourne. Mesoblast now boasts of a market capitalization of approximately $1.5 billion, and has $280 million cash on hand. Melbourne businesses that are continuing to trade during stage four restrictions must issue all workers with worker permits. The company's products under the Phase III clinical trials include MSC-100-IV for steroid refractory acute graft versus host disease; MPC-150-IM for advanced heart failure; and MPC-06-ID for chronic low back pain due to degenerative disc disease. Dr. Silviu Itescu, MD is a Diagnostic Laboratory & Dermatologic Immunology Specialist in New York, NY. Here's how the scheme will work. He has been on Mesoblast’s board of directors since the company’s founding in 2004. Diagnostic Laboratory & Dermatologic Immunology; More Information. Mesoblast works from the offices of Thorney Investments, which is owned by the Pratt family (worth an estimated $4.6 billion). “We are about three years from having a product on the market,” Itescu says. No other Australian company has done that and had that success rate. Silviu Itescu has an excellent view of the world and he is clearly a man with great oversight as well as meticulous attention to detail. )What are the strategies that Itescu has used to build his company against such odds?Biotechnology companies have learned to mitigate the risk of developing therapies by developing more than one product at the time (a product pipeline).Mesoblast started with bone regeneration trials (with dramatic positive results), but has since added a range of other possibilities:“Those are the growth areas for us,” Itescu says. "While working as the head of Transplantation Immunology at Columbia University Medical Center, US, Dr Itescu specialized in the field of immunosuppressant to prevent the rejection of transplanted organs. The strength of its results underpinned Mesoblast's ability to successfully enter into a major strategic alliance with global biopharmaceutical company, Cephalon, in December 2010.Dr Itescu, who is a member of the US President's Council on Bioethics and the US Food and Drug Administration's Biological Response Modifiers Advisory Committee on cell therapy, has guided Mesoblast's growth. Culture Amp co-founder Jon Williams and Atlassian alumni Joris Luijke have raised $3 million for Pyn, a startup seeking to improve workplace communication.
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