Dr Silviu Itescu formed Mesoblast in 2004 to commercialize orthopedic applications of proprietary adult stem cell technology. As the CEO and MD of the Australia-based company, he continues to lead his team to identify opportunities and markets for its products. BioSpectrum speaks to him after he was selected for the BioSpectrum Asia Pacific Person of the Year 2011.

How do you see the development of stem cell technology and how promising is its future with respect to Mesoblast?

Clearly, stem cells therapy are becoming a reality today. Our business has been significantly de-risked and we are the first company to have manufactured a stem cell product that has been approved by a regulatory authority.

In the next five years, stem cell technology will be further de-risked and will contribute significantly to clinical outcomes in the future.

What are the prospects of the $2 billion worth deal between Mesoblast and the US-based pharma company Cephalon?