Athersys strikes licensing deal with new Japanese partner

Story excerpt provided by Crain’s Cleveland Business.

Written by Chuck Soder.

Athersys has a new partner in its quest to break into the Japanese market.

A young Japanese company called Healios K.K. has bought exclusive rights to commercialize Athersys’ stem cell technology for ischemic stroke patients in Japan.

The Cleveland company will receive $15 million up front, and it could earn another $30 million if the product successfully moves through clinical trials in Japan. Athersys also could receive up to $185 million if the product reaches certain sales milestones, plus additional royalties.

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Originally published January 8, 2016.