Flash note: One door closes, another one opens
Today, Athersys announced that the agreement between the company and Chugai to develop and commercialize MultiStem in Japan has ended following the failure of negotiations to modify the financial terms of the agreement and to decide on a development strategy. However, Athersys also announced that it has already signed a letter of intent with another Japanese company to develop and commercialize MultiStem in Japan in ischemic stroke and other areas.Athersys is a biotechnology company that is focused in the field of regenerative medicine. The company's MultiStem? cell therapy, a patented and proprietary allogeneic stem cell product, is its primary platform product and is in clinical development. The company's existing clinical development programs are focused on treating neurological conditions, cardiovascular disease, inflammatory and immune disorders, certain pulmonary conditions and other conditions where the existing standard of care is limited or inadequate for a number of patients. The company has a collaboration with HEALIOS K.K., to develop and commercialize MultiStem for the treatment of certain indications in Japan.
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