Update: Chugai deal builds confidence
The development of regenerative medicines in Japan presents a significant opportunity. Athersys has just taken a major step towards accessing this key market in securing Chugai as its development and commercialisation partner for MultiStem cell therapy in Japan. Athersys will receive $10m upfront and up to $195m in milestones. Our near-term focus remains on results in April from the Phase II study in ischaemic stroke, but the Chugai deal puts MultiStem in pole position to take advantage of a new regulatory framework in Japan. We raise our valuation to $290m or $3.75 per share.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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