Mesoblast (NASDAQ:MESO) has implemented a sweeping reorganization of its Board of Directors, effective January 1, 2026, signaling a definitive shift from a research-heavy biotech to a revenue-driven commercial entity.
The leadership transition follows the company's most transformational period, highlighted by the December 2024 FDA approval and subsequent 2025 launch of Ryoncil (remestemcel-L).
Jane Bell, who presided as Chair during the approval process and the therapy's first year on the market, has retired from the role but remains on the board as a non-executive director.
The board has unanimously appointed Philip Facchina as the new non-executive Chair.
Facchina, a board member since 2021, brings over 40 years of experience in corporate strategy and healthcare finance—expertise the company views as vital for its next stage of U.S. market expansion.
Additionally, Lyn Cobley has been named Chair of the Audit and Risk Committee, while William Burns continues as Vice-Chair and Chair of Nomination and Remuneration.
The governance changes coincide with a surge in commercial performance.
In its late-2025 trading update, Mesoblast reported that Ryoncil gross revenue for the quarter ending December 31, 2025, is expected to exceed $30 million.
This represents a 37% sequential increase from the $21.9 million generated in the previous quarter, as the therapy gains traction in top-tier pediatric transplant centers.
To support this growth, Mesoblast also recently overhauled its balance sheet, retiring its high-cost senior debt with Oaktree Capital on December 29, 2025, and replacing it with a more flexible, $125 million five-year credit facility.