By Josh Beckerman

Mesoblast Ltd. American depositary receipts surged 25% to $14.70 after hours as the company entered an exclusive worldwide license and collaboration agreement with Novartis AG for Mesoblast's mesenchymal stromal cell product remestemcel-L.

The initial focus will be on treatment of acute respiratory distress syndrome, including that associated with Covid-19.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 19, 2020 17:38 ET (22:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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