Story excerpt provided by Crain’s Cleveland Business. Written by Scott Suttell.
Cleveland biotechnology company Athersys Inc. (NASDAQ:ATHX) has reached an agreement with Japanese drugmaker Healios KK to broaden their collaboration into new therapeutic areas.
Under terms of the deal, Healios obtained exclusive licenses for the development and commercialization in Japan of Athersys’ MultiStem therapy for the treatment of acute respiratory distress syndrome (ARDS). Healios also received an exclusive global license to develop and commercialize MultiStem cells, either as a standalone therapy or in combination with retinal pigmented epithelial (RPE) cells, “for certain ophthalmological indications, and an expansion of its license to use Athersys technology to support its organ bud programs to include other transplantation areas,” the companies said in a news release.
In exchange, Athersys will receive $20 million in license fees: $10 million paid from an escrow account established with the March signing of a letter of intent, and four installments of $2.5 million each to be paid in this and the next three quarters. (In early May, Athersys and Healios extended the original timeline for completing the expansion of their collaboration.)
Click here to read the complete article. Originally published June 7, 2018.