Mesoblast (ASX:MSB) said its Ryoncil product achieved its first full year of net revenue in the amount of $115 million in the fiscal year ended June 30, exceeding the company's initial projections, according to a Friday Australian bourse filing.

Net revenue for Ryoncil, a treatment approved for steroid-refractory acute graft versus host disease in pediatric patients, was $36 million for the fiscal fourth quarter, the company said.

The new five-year facility has freed up the company's label extension and products for strategic initiatives, Mesoblast Chief Executive Silviu Itescu said.

Mesoblast's shares rose nearly 5% in recent trading on Friday.