DGAP-News

Athersys and Chugai Enter License Agreement and Collaboration to Develop MultiStem(R) Cell Therapy for Ischemic Stroke in Japan - Seite 2

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.'

As part of the collaboration, Chugai will be responsible for the development
and commercialization of MultiStem for ischemic stroke in Japan, and Athersys
will have responsibility for product supply. Under the financial terms of the
agreement, Athersys will receive an up-front cash payment of $10 million from
Chugai and would receive additional payments as the program is further
advanced. Athersys is eligible to receive milestone payments from Chugai of up
to $45 million upon the successful achievement of certain development and
regulatory milestones, and sales milestones of up to 17.5 billion Yen
(approximately $150 million based on the current exchange rate). Athersys
would also receive from Chugai tiered, double-digit royalties on any net sales,
as well as payments for product supplied to Chugai.

In Athersys' ongoing Phase 2 clinical study, it is evaluating the
administration of MultiStem cell therapy to patients who have suffered an
ischemic stroke. Based on preclinical research to date, administration of
MultiStem has shown significant benefits through several mechanisms, including
reduction of inflammation and immune system modulation in the ischemic area,
and the protection and rescue of damaged or injured cells, including neuronal
tissue. Athersys is treating patients one to two days after the stroke has
occurred, in contrast to thrombolytic tPA treatment, which is limited to the
first three to four hours following the stroke. Preclinical studies have
demonstrated that administration of a single dose of MultiStem therapy, even
one week after a stroke, provides significant and durable improvements relative
to controls. Enrollment in Athersys' double-blind, placebo-controlled trial is
complete, and interim safety and initial efficacy results following the
ninety-day patient data are expected to be announced in April 2015, following
analysis and receipt of the unblinded clinical data.

About Ischemic Stroke