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**Rexlemestrocel-l** is Mesoblast's investigational, off-the-shelf allogeneic mesenchymal precursor cell therapy derived from adult human bone marrow. The product consists of STRO-3-immunoselected, culture-expanded stromal cells intended to exert predominantly paracrine immunomodulatory and anti-inflammatory effects rather than durable cellular engraftment. It has been studied as an intravenous infusion in type 2 diabetes and diabetic nephropathy, as transendocardial/intramyocardial administration in heart failure with reduced ejection fraction, and as an intradiscal injection for chronic low back pain associated with inflammatory degenerative disc disease. Mesoblast completed patient treatment in a pivotal Phase 3 chronic low back pain study in August 2026, and has filed a U.S. biologics license application requesting modular review for prevention of life-threatening gastrointestinal bleeding associated with right-ventricular dysfunction in end-stage heart-failure patients supported by a left-ventricular assist device. ([investorsmedia.mesoblast.com](https://investorsmedia.mesoblast.com/static-files/02a9f59b-bd78-4646-a051-3e17e3013832))
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