Athersys licenses stem cell therapy to Chugai
Clients Athersys, Inc.
Jones Day advised Athersys, Inc. as licensor, in connection with its collaboration with Chugai Pharmaceutical Co. to further develop and commercialize Athersys' proprietary MULTISTEM stem cell therapy in Japan for the treatment of ischemic stroke. Such treatment is in Phase II clinical trials in the U.S. and Europe. Under the terms of the agreement disclosed by the companies, Athersys will receive $10 million up front, additional payments as the program is further advanced, and is eligible to receive development milestone payments of up to $45 million, sales milestones up to 17.5 billion Yen (at current rates, ~$150 million USD), and double-digit royalties.