**Abstract**

The global SARS-CoV-2 outbreak has been accompanied with severe socioeconomic and health burdens that will ripple through history. It is now known that SARS-CoV-2 induces a cytokine storm that leads to acute respiratory distress syndrome and systemic organ damage. With no definitive nor safe therapy for COVID-19 as well as the rise of viral variants the need for an urgent treatment modality is paramount. Mesenchymal stem cells (MSCs) and their extracellular vesicles (EVs) have long been praised for their anti-viral, anti-inflammatory and tissue regenerative capabilities. MSCs and their EVs are now being studied for their possible use as a treatment modality for COVID-19. In this review we explore their capabilities and outline the evidence of their use in ALI, ARDS and COVID-19.

**Keywords:** COVID-19, Coronavirus, SARS-CoV-2, Mesenchymal stem cells, Extracellular vesicles, Exosomes, Regenerative medicine
