Mesoblast Limited (MSB) said it had completed a private placement to existing and new investors. The regenerative medicine company said the $10.8 million in new funds would be used in conjunction with its existing working capital, reported at 31 December to be $9.6 million, to expand the company’s clinical trial programs focussing on bone and cartilage regenerative products for spinal vertebral disc disease. The company said the placement of 15.02 million shares was oversubscribed and was made at a 10% discount to the closing price of the company’s shares on 25 March 2009.