Athersys and Chugai Enter License Agreement and Collaboration to Develop MultiStem(R) Cell Therapy for Ischemic Stroke in Japan

Regenerative Medicine Partnership Focused on Development of Novel Stem Cell Therapy

CLEVELAND and TOKYO, March 2, 2015 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) and Chugai Pharmaceutical Co., Ltd. (Tokyo Stock Exchange: 4519) have announced a partnership and license agreement to exclusively develop and commercialize MultiStem® cell therapy for ischemic stroke in Japan. Ischemic stroke represents a priority disease area in Japan, given the high healthcare burden of the condition and the expected increase in incidence associated with Japan's aging population. Athersys' proprietary cell therapy product, MultiStem, is currently being evaluated in a Phase 2 clinical study for ischemic stroke in the United States and Europe, and Athersys has begun preparations for clinical development in Japan, including engagement with the Japanese Health Authority. Chugai is a leading research-based pharmaceutical company with strengths in biotechnology products, and brings to the collaboration substantial expertise and experience in late-stage development and commercialization in Japan. "We are delighted to have concluded a license agreement with Athersys for the development and marketing of MultiStem, a very innovative cell therapy under clinical development," said President and Chief Operation Officer at Chugai, Tatsuro Kosaka. "By combining Chugai's strong expertise in biological pharmaceuticals, we hope to bring MultiStem to the Japanese healthcare system as a new treatment modality during the critical phase of ischemic stroke." "We are excited to be working with Chugai in this important area and look forward to combining our respective capabilities and expertise to successfully develop and commercialize MultiStem for the treatment of ischemic stroke in Japan," said Dr. Gil Van Bokkelen, Chairman and Chief Executive Officer at Athersys. "We believe that Chugai represents an outstanding partner with strong capabilities in all facets of the development, commercialization and marketing of novel medicines in the Japanese healthcare market. Chugai has been a leader in the development and introduction of innovative biologics and has successfully established one of the top sales forces in the prescription drug field in Japan, which we believe represents a key competitive advantage that can help both companies maximize value. Athersys and Chugai are committed to working together to establish a leadership position in the regenerative medicine cell therapy area in Japan."